Guatemala: Mobile Banking Growing

Payment transfers and basic services are the types of transaction most made by the 708 thousand users of mobile financial services recorded in the country.

Friday, June 12, 2015

82.9% of users of financial services are concentrated in the department of Guatemala, equivalent to 587,366 affiliated mobile customers. The average amount of transactions completed using this system nationwide is $85. Monetary deposits are the most demanded service with 51.5%, followed by savings deposits with 26.1%, and the remaining part is credit lines.

Distribution by bank, of these types of users is outlined in an article on, which states that "... Banco Industrial (BI) leads with a 65.7 per cent stake of customers affiliated to these services; followed by G & T Continental with 19.6 percent, Banrural has 12.3 percent, and the remaining 2.4 belongs to International Bank; Bantrab and Bank of Central America (BAC) ... ".

Victor Mancilla, former head of the Superintendency of Banks, said that "... these operations are further linked to corporate accounts, but with technological and cultural advances retail banking will follow along ...".

See: " Quarterly Financial Inclusion in March 2015 "

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