Banco Plata Bets on Cash, Will Deploy Over 300 ATMs in Mexico

Banco Plata is betting on the enduring appeal of cash, announcing plans to roll out more than 300 intelligent ATMs throughout Mexico. This strategic move acknowledges a persistent reality: eight out of every ten transactions in the country are still conducted using physical currency.

The digital bank's ATMs will serve as its sole physical touchpoint with customers. They are designed to handle a range of operations, including cash withdrawals and deposits, service payments, and interbank transfers. Notably, users will be able to conduct transactions with or without a physical card, utilizing QR codes and supporting digital wallets like Apple Pay and Google Pay.

Neri Tollardo, co-founder and general director of Banco Plata, explained that the decision stems from a need to adapt to the habits of Mexican users, who continue to favor cash. The new ATMs also aim to provide a secure location for deposits and withdrawals, reducing the need for individuals to carry large sums of money in public spaces.

Banco Plata has already begun deploying the first 50 units, with installation scheduled between June and August 2026 in eight major cities: Mexico City, Monterrey, Guadalajara, Querétaro, Toluca, Puebla, Cancún, and Puerto Vallarta. The company aims to reach its goal of 300 ATMs within a year, expanding its physical presence in the Mexican market.

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De acuerdo con Neri Tollardo, cofundador y director general de Banco Plata, la decisión responde a la necesidad de adaptarse a los hábitos de los usuarios mexicanos, quienes continúan utilizando el efectivo de manera predominante.