As coronavirus disrupts mobility across the globe, digital payments have indisputably become more important than ever. Santander wants people still paying with cash to understand the benefits of going digital.
In this time of uncertainty, Santander’s purpose of helping people and businesses prosper inclines us to take on the challenge of helping customers and non-customers transition smoothly from cash to digital payments. Even though cash still accounts for more than 50% of global transactions1, Santander is committed to supporting day-to-day digital payments and preserving the direct relationship between customers and merchants.
The move away from cash poses particular barriers to society’s most vulnerable individuals, who are more likely to be digitally excluded. Santander expanded digital and remote customer service channels in all its countries during the pandemic to help people who were using online services for the first time. In Mexico, we brought on 400 additional agents to handle queries. In Portugal, we made bank transfers free on our digital channels. Because the pandemic has limited mobility across the globe, Santander has developed this educational video to boost consumer confidence and help individuals become digitally active as we transition into a more digital society and economy.
According to Spain’s central bank, ATM withdrawals in June 2020 fell between 15% and 20% compared to the same month of 2019 due to health concerns. Santander raised limits on contactless purchases in Mexico, Portugal, Spain, Poland, Argentina and the United Kingdom.
Santander’s cards and ‘wallets’ continue to provide a hassle-free, contactless experience. We support SMEs so they can be more competitive in a digital world with the best experience at home and abroad.
Santander sees payments as both a service and an experience. They must be accessible on the go, with no need for cash, an ATM or being physically present. Because we wanted to help keep money moving around the world, we launched PagoFX in April in the UK (soon to be available in more countries) with no remittance fees for the first few months.
Contactless paying is good for both health and security reasons. Going from cash to digital makes payments simpler and immediate and allows customers to trace their spending, prevent identity theft, keep their budgets on track and promote sustainability by reducing their use of paper bank notes.
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