[elcano]

Puerto Rico (USA Territory) - Digital payments in the form of debit or credit cards are pretty much universal here, but most fast foods, small business and even semi-formal business (mom+pop) accept an app-based payment called ATH movil. This system is sponsored by the largest bank here (although it's not owned by them). This is so strong here that many businesses apologize when they can't accept it, and the smallest business only accept either cash or ATH móvil. Not all the local banks and credit unions support the system. So when you don't have cash and cannot use ATH móvil to pay, you might feel excluded from the local economy. In my opinion this bank is using the app to consolidate the oligopoly in the local market. Which is almost a monopoly because the other banks are insignificant to them (in size). Of course, they share the system with other tiny banks and credit unions, so you cannot claim monopoly. In addition, the system belongs to a company that they spun off a few years ago.