Whoever wins the elections, the digitization process will continue, says President Vise

SÃO PAULO, SP (FOLHAPRESS) – The process of digitization of financial habits, which has strengthened even more with the pandemic, should continue during the next year, regardless of who wins the elections in the country, according to Nuno Lopes Alves, president of Visa. card network in Brazil.

“We are not taking a political stance, but what we see is that regardless of the government and the macroeconomic scenario, the digitization movement will continue, and that means opportunities,” the executive says in an interview accompanying the report.

Alves adds that the country has strong institutions and does not see any risk to democracy in connection with the electoral process.

According to him, the room for growth of payment companies depends much more on the level of sophistication of the economy and society in relation to access to electronic commerce in general than on the electoral or macroeconomic framework.

Estimates by Abecsa (Brazilian Association of Credit Card and Services Companies) cited by President Visa indicate that the level of spending by Brazilian families through electronic means of payment will reach about 60% by the end of this year.

There are, however, differences between regions, with much lower percentages in cities further away from major capitals. “There’s still plenty of room for that door [da digitalização] to grow up. There are several verticals to break through,” says Alves.

He also states that, even with the continuation of face-to-face activities, the digital habits adopted in the last two years should remain.

“When people stopped listening to CDs and started using streaming, they didn’t get enough of streaming and went back to buying CDs. The same thing happened with subscription movies, people stopped renting VCRs. Digitization has an evolutionary direction.”

PIX IS POSITIVE IN INCREASE IN POTENTIAL MARKET SIZE, EXECUTIVE SAYS

The President of Visa in Brazil also praises the development and mass adoption of Pixo by the Brazilian population.

Again citing estimates from Abecs, of which he is one of the vice presidents, Alves says that, of the total number of Pix users, about 13% did not have any type of electronic payment until the tool was launched, and another 13% had access to these services but he did not use.

BC (Central Bank) data from July shows that Pix, launched in November 2020, has already reached around 130 million users.

According to Alves, 26% of Pix users are not digitized and the instant payment tool plays a role in financial and digital inclusion. “Once in this space, this audience becomes permeable to other offers,” he says.

The executive also says that, depending on the mood of global regulatory bodies regarding the adoption of new technologies, the financial movement tool developed by Brazil’s central bank may in the future add new services that go beyond the country’s borders, allowing for example, a person in Brazil to make a transfer via Pix to someone who will receive the amount on a Visa card, even if they are in another country.

“This is the concept of a network of networks. Any network that expands our capacity and gives us more visibility of our transactions is good news, because in the end we have value-added services for those transactions,” says Visa’s president in Brazil.

VISA HAS PROJECTS WITH CRYPTO ASSET AND REAL DIGITAL

The CEO says that the company has increasingly integrated its platforms with the world of crypto assets and cites a project in partnership with Microsoft, which was one of nine selected by BC to test the effectiveness of digital real.

The idea of ​​the project, he says, is to allow small rural producers to be financed through different investors who can be anywhere in the world, using a kind of universal adapter based on the blockchain network that will convert the currencies of different countries ., and even crypto assets, turning them into digital reality.

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