About us
Denaria Chile
Purpose
Denaria Chile was created with the purpose of protecting people’s right to use cash as a means of payment, understanding its social, economic, and cultural value. The institution began in Spain and is operational in Germany, Portugal, among other countries.
Our goal is to ensure that in Chile no citizen is excluded from the economic system due to technological or financial barriers.
We want to influence public policies and foster a plural conversation about the coexistence of means of payment. We believe the right to use cash must be safeguarded, coexisting as a complement to digital means of payment.
Maintaining the use of cash in our country is essential because in Chile, 1.5 million people do not have internet access, more than 2 million are unbanked, and 37% of those who have a RUT account cannot make electronic transfers. Cash fosters the inclusion of older adults, migrants, informal workers, entrepreneurs, and millions of people who live their economy in a simple, everyday way.
According to the Central Bank, 70% of Chileans would be affected if they could not pay in cash, and more than 90% still carry it in their wallet. Although digital payments are a great tool, cash remains the second most used means of payment in Chile, with 31% of daily transactions.
Font: Banco Central de Chile
Cuando la tecnología se apaga,
el efectivo enciende al país
In addition, a significant portion of the country lives in rural areas. According to the INE methodology, 13% of Chile’s population lives in rural areas. However, using the OCDE definition, this rises to more than 30%. A large part of that population does not have access to connectivity and, therefore, to digital payments.
Likewise, as we know, Chile is a country that often suffers natural disasters and, in those cases, the use of cash is key for the country to continue operating. But crises are not only natural; look, for example, at what happened with the recent blackout we experienced both here and in Spain, where the use of cash was key to keep operating.
About us
Fernando Yáñez
Executive President of the Denaria Chile Association, contributing his vast experience in the financial field. For more than 28 years, he was the general manager of the Central Securities Depository (DCV), an institution key to the development of Chile’s capital market. His strategic vision and commitment to financial inclusion position him as a reference for the use and permanence of cash as an essential means of payment.