Digital Banker Plata to Set Up 300 ATMs in Mexico to Adapt to Cash Usage

Despite the general trend in the digital banking sector towards digitization and branchless services, the dominance of cash power in the Mexican market is forcing digital players to change their strategies. Banco Plata, Mexico's most valuable private digital bank, has taken a significant step to strengthen its physical presence given the high usage of cash in the country. In an official statement, the bank announced that it will establish a network of more than 300 smart ATMs across Mexico to meet cash needs while preserving its digital nature.

The fact that eight out of every ten transactions in Mexico still take place with cash was cited as the primary reason for Banco Plata's strategic move. The new network will serve as the bank's only physical touchpoint with its customers, thus integrating a fully digital structure into cash circulation. The project serves as a striking example for the industry, demonstrating that even a digital bank cannot avoid investing in physical infrastructure to survive and grow in a geography where the cash economy is dominant.

The smart devices to be deployed are poised to offer a much wider range of financial services than standard ATMs. Equipped to handle cash deposits and withdrawals, these terminals will also allow users to perform operations such as bill payments and credit card debt payments. Additionally, the system features 'cardless' capabilities that eliminate bank card requirements and center on mobile phones; users will be able to complete cash transactions more securely by scanning QR codes or integrating digital wallets like Apple Pay and Google Pay.

Neri Tollardo, one of the founding partners and general manager of Banco Plata, defines this investment not as a technology upgrade but as a response to users' security needs. Emphasizing that user habits in Mexico still favor cash and that this will not change, Tollardo stated that the most important goal of the new network is security. Accordingly, the aim is to establish a system where people can deposit and withdraw money safely at this next-generation ATM network, rather than carrying large amounts of cash and risking their safety on the streets.

In terms of technical infrastructure, these ATMs are defined as 'smart' devices with software-based and continuously updatable features. Operating as a physical extension of the bank's mobile application, this network will become one of Mexico's leading ATM networks when it reaches 300 units. The installation of the first 50 units has begun, and these devices are planned to enter service in eight major cities between June and August 2026. The targeted cities include the capital Mexico, Monterrey, Guadalajara, Querétaro, Toluca, Puebla, Cancún, and Puerto Vallarta.