Reasearch from McKinsey shows that the compatriots of Pablo Neruda and Augusto Pinochet are very conservative… especially when compared to their neighbors on the continent.
Main topics:
➡️They love plastic: 81% of those surveyed admitted they prefer cards and physical payment terminals.
➡️Debit cards are in the lead: people say that they have better control over expenses (20%), besides, this method of payment is more familiar (17%), and it also allows to pay contactless (15%).
➡️ …but Chileans also like credit ones: this is due to the possibility of paying in installments (15%), lower interest rates (13%), loyalty programs (11%), higher credit limits (10 😵 and merchant networks with discounts (8%).
➡️ As for those who prefer mobile payments, they are most motivated by access to promotions (receiving cashback (20 %), which is above the Latin American average.
➡️ An interesting trend is the gradual abandonment of cash (also quite atypical for the region). Only 13% of respondents said they prefer cash for payment.
Interesting fact, the largest acquirers in Chile are Banco de Chile, Banco Santander and BCI.
Read more: Best Gambling Payment Providers
