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375 thousand new users benefited

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  • Jonathan Bustamante
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375 thousand new users benefited

At the end of 2020, 375 thousand new users entered the Clave debit card system, and more than 200 businesses entered the e-Clave e-commerce and Mis Pagos Hoy (MPH) platforms. Thus, there has been a significant increase in the number of citizens and businesses with access to financial services and the advantages offered by electronic payment methods, which are growing rapidly in Panama, accelerated by the Covid-19 health crisis.

The need to pay and fulfill financial obligations, remotely, for goods and services increased in March 2020 when the quarantine and closure of local businesses was decreed. At that time SISTEMA Clave was one of the Telered brands that renewed its services, enabling electronic purchases in more than 200 local businesses. The achievement of this milestone made it possible to support consumers during the pandemic who needed to make purchases and payments in non-present environments, mitigating health and safety risks.

“In 2021 we will continue to strengthen the security of our platforms, implementing real-time interbank transfers and launching new solutions with the vision of interconnecting the different actors on a single highway, thus consolidating the banking industry, people and the economy,” said Alexander Acosta, CEO of Telered, a company that leads the electronic processing of transactions in Panama.

During 2020, the company also focused its efforts on modernizing the interbank transfer platform under the ACH Directo brand. This exercise will enable real-time transfers, or RTP, to be made by mid-2021. The ACH Directo system, despite having a decrease in transaction amounts of -1.7%, closed 2020 with a 29% growth in total transactions.

For its part, Mis Pagos Hoy (MPH), the service that connects Financial Institutions with service companies on the same technological platform, obtained the best performance of 2020 within Telered, reporting a growth of 131% compared to 2019, and an increase in transaction amounts of 386% by the close of the year.

“Digital transformation in a company like Telered is underway and is essential to generate positive impacts on the economy by driving the digitization of the financial system and national commerce,” Acosta added.

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