For the second consecutive month the Multicaixa Express It surpassed the value of transactions carried out at ATMs, a sign that digitalization has gained ground compared to traditional means.
The digital channel is already worth 36,5% of the global value moved on the Multicaixa network, which compares with monetary transactions made at ATMs, which fell to 34,5% last month, according to various calculations made by the weekly newspaper Jornal Expansão.
Multicaixa was launched in April 2019, where in 2023 it surpassed ATMs in number of operations, being the most traditional means of consultation and financial operations carried out by bank customers.
BUT: Multicaixa Express application represents 46% of transactions on the network, reveals report
For several experts, the growth of Multicaixa Express is a sign that Angola is beginning to replace physical cards with more digital means in operations and transactions on the Multicaixa network, as is already observed in countries with more developed financial systems. This will allow for less circulation of physical money and greater control not only in combating crimes such as money laundering, but also with a view to formalizing the economy itself.
Multicaixa Express currently has more than 1,37 million valid users and is the fastest growing channel on the Multicaixa network, both in number of operations and users. The reinforcement of security that was called into question in the first years, together with the speed of operations, makes it possible to avoid long queues at ATMs, which has been the main attraction for Angolan society.
