Citibanamex begins to see the recovery of one of the worst hit segments in the pandemic: credit cards.
The bank presented its new plastic called Simplicity on Tuesday, with which it expects credit card billing to resume gradually by 2022.
“We are seeing a 20% recovery compared to the same period last year. We are already seeing an increase in activity in entertainment, travel, restaurants and airplanes,” said Antonio Perdomo, executive director of Citibanamex cards in videoconference.
Without giving exact figures, the executive stressed that despite the fact that plastic cancellations were registered during the pandemic, either because the bank canceled the account or because the client did so voluntarily, this behavior has been decreasing.
“The rate of voluntary cancellation has decreased; the peak for non-payment has already been left behind and in voluntary cancellation there are fewer and fewer customers who speak to us to cancel the card,” he said.
With the new card that the bank presented this Tuesday, the annuity charge is canceled and the requirement is to have a good credit history as well as income of more than 7,000 pesos. This can help increase the number of customers with a plastic.
The bank, together with Mastercard, promises to provide more security to customers since the card will not have the CVV code printed, to obtain it, the customer must enter the mobile application to obtain a new one for each purchase.
Citibanamex did not disclose how much identity theft crimes could be reduced with this new solution.
