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Weekly Roundups

More Mexicans Go Online in 2020, Banking Services Lag Behind

By Andrea Villar | Thu, 07/01/2021 - 23:23

The pandemic changed the way Mexicans surf the net. In 2019, 95.3 percent of internet users went online via a smartphone, rising to 96.0 percent in 2020. The percentage of those who did so via laptop dropped from 41.0 percent in 2019 to 33.7 percent in 2020. It should be noted, however, that the percentage of people who connected via a Smart TV decreased from 23.4 percent in 2019 to 22.2 percent in 2020, revealed the National Survey on the Availability and Use of Information Technologies in Households (ENDUTIH) published by INEGI

ENDUTIH also revealed that around 84.1 million people in Mexico are internet users, representing 72.0 percent of the population aged six and over. However, it also reported that not all internet users have access to all information and communication technologies (ICTs). Only 21.7 percent of internet users, for instance, conducted online banking transactions, which meant a year-on-year growth of 4.9 percentage points compared to 2019.

In 2020, 93.8 percent of online users in the country said that they used the internet mainly to stay connected. Internet users aged six and older reported that being connected helped them search for information on the web and access social media, entertainment and audiovisual content. Last year, nearly 90 percent of internet users surfed mainly for leisure and entertainment while reading books, newspapers or magazines were among the least popular leisure activities among internet users in the country.

More news below:

  • There are endless ways for a business, even an SME, to start its tech journey and certain technologies can provide an unparalleled competitive advantage, writes Ricardo López-Tello, Corporate Sales and Government Director of Intel Mexico. One of them, he explains, is artificial intelligence. “Data analyzed with artificial intelligence, corrects large volumes of inventory distortion and, at the same time, allows supply chains and product development to be incredibly efficient. Can you imagine an SME having the same IT power to operate its business as a transnational company? In simple terms, that's what I mean by this. But with such incredible benefits, what stops this business sector?” Read the full article here.

 

  • Ricardo Salinas, a vocal supporter of bitcoin since last year, said on Sunday that Banco Azteca is actively working to accept the cryptocurrency as payment. “I recommend the use of bitcoin. Me and my bank are working to be the first bank in Mexico to accept bitcoin,” Salinas wrote in a tweet on Sunday in response to Michael Saylor, CEO of BI and MicroStrategy. However, a joint statement from Mexico’s main financial institution has put the viability and legality of this plan in question. Mexico's Central Bank (BANXICO), the Ministry of Finance and the National Banking and Securities Commission (CNBV) published a joint statement on Monday stating that financial institutions are not authorized to enter or offer cryptocurrency transactions to the public. The full story here.

 

  • Facebook joined Apple, Microsoft, Amazon and Alphabet in the trillion-dollar club after a judge dismissed an antitrust complaint by the US Federal Trade Commission (FTC) and a coalition of state attorneys general. On Monday, Mark Zuckerberg’s company’s shares closed 4.2 percent higher at US$355.64, surpassing US$1 trillion in market capitalization for the first time. The judge ruled that the FTC did not provide enough evidence to support the argument that Facebook monopolizes social networking, leaving the trade commission 30 days to file an amended version of the complaint. 

 

  • In an interview with Mexico Business News this week, Brenda Zetina discusses the added value of Datadog’s services, which continue to grow in relevance as Mexico moves to the cloud en masse. “Companies can save a lot of time in solving a problem if its origins can be pinpointed. This results in benefits outside of IT because it allows the core, operational and development arms of a company to provide the optimal user experience by improving response times and dealing with complex issues swiftly,” she explains. Read the full conversation here.

 

  • A comprehensive cloud strategy is key to producing more efficient workflows that enable innovation throughout an organization, wrote this week for MBN Marco Reis, Country Manager of Wipro Mexico. Reis said that companies looking for efficiency face challenges such as process improvement, standardization, organizational restructuring and automation. “Only when teams have a clear view into innovation projects and can track progressions and false starts does momentum build to an unstoppable pace.” Read the complete article here.

 

  • On June 30, DiDi Global officially went public selling 316.8 million American Depositary Shares (ADS), almost 28 million more than originally planned, at a price of US$14 per share. “We believe in that world. In a ‘future mobility world, where our cities are lovely and livable, and our lives are easier and better,” wrote DiDi’s Chairman and CEO Will Wei Cheng and President Jean Qing Liu on the prospectus. The ride-hailing company raised US$4.4 billion in its US IPO. The listing is the biggest US share sale by a Chinese company since Alibaba raised US$25 billion in 2014. Go deeper here.
Andrea Villar Andrea Villar Journalist and Industry Analyst