Nubank Study: Cash Usage Declines Among 60% of Mexican Customers

One of the largest digital financial services platforms in the world, Nu reached 12 million customers in Mexico, democratizing access to 25% of the banked population in the Country

MEXICO CITY--(BUSINESS WIRE)--Nu Mexico, a subsidiary of Nubank, one of the largest digital financial services platforms in the world, announced today the milestone of 12 million customers in Mexico, representing 25% of the banked population in the Country. To showcase how its clients' financial lives have evolved and the transformations generated by its products, the company presented the third edition of the study “Impacto Nu: From Access to Well-being”. A key insight: nearly 60% of customers report using less cash than before and actively saving thanks to the Nu money boxes known as “Cajitas".

Nu Mexico has become an accessible gateway to the formal financial system, especially for women and low-income individuals. Nearly 4 in 10 customers said they had been rejected by other institutions, most commonly when applying for a credit card (89%).

“We are witnessing a genuine evolution: people are moving from using less cash to managing their money entirely from their phones—and in that same digital space, six out of ten already save without touching their daily liquidity, while half add money to their Cajitas each month. This shift from cash to digital saving shows that Nu is accelerating the modernization of money in Mexico and building a more reliable, inclusive, and straightforward financial future for millions,” explained Romina Benvenuti, Director of Public, Regulatory, and Legal Affairs at Nu México.

The study, based on a survey conducted in Mexico in January 2025 with over 2,100 users of Nu's Credit Card and/or Debit Account, reveals that Nu’s impact goes far beyond daily transactions.

A multiplier effect

Nu’s impact goes beyond finances. 86% of customers rated its overall positive effect as “high.” While many reported economic improvements, they also noted gains in emotional well-being, family relationships, safety, and overall lifestyle.

• Greater sense of security: 72% feel more confident managing and safeguarding their money.
• Well-being: 50% say money has become a source of peace rather than stress.
• Stronger family and community ties: 67% report being better able to support loved ones, especially among customers over 44.

About Nu

Nu is one of the largest digital financial services platforms in the world, serving more than 118 million customers across Brazil, Mexico, and Colombia. The company has been leading an industry transformation by leveraging data and proprietary technology to develop innovative products and services. Guided by its mission to fight complexity and empower people, Nu caters to customers’ complete financial journey, promoting financial access and advancement with responsible lending and transparency. The company is powered by an efficient and scalable business model that combines low cost to serve with growing returns. Nu’s impact has been recognized in multiple awards, including Time 100 Companies, Fast Company’s Most Innovative Companies, and Forbes World’s Best Banks.