Business

Mastercard, Visa, and the "invisible payments" trend during the Latam Cross-Border Summit

Fernando Teles, from Visa; and João Pedro Paro Neto, from Mastercard, on what are the innovations and regulatory environment in the Brazilian payments landscape

“The future is to make payments without knowing you have made a payment,” said João Pedro Paro Neto, from Mastercard during the Latam Cross-Border Summit, a payments focused event powered by the Brazilian fintech EBANX. With this statement, the Mastercard President for Latin America summarized what he believes will be the future of payments. But he wasn’t the only one to make that claim.

Fernando Teles, Country Manager of Visa in Brazil took the stage one day before to talk about what the landscape of emerging payment technologies and innovation is in the country. “Invisible payment transactions are the kind of experience that consumers are looking for nowadays.” As experts in the payments scenario – Visa and Mastercard – more than competitors, they showed that they are very much tuned in on what is in the horizon of the sector.

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“It doesn’t matter the device. Soon we will be able to pay and receive in whatever device we have – it might be a card, a phone, or another gadget,” highlighted Paro Neto, explaining that Brazil is moving into an environment very favorable for e-payments. And there’s no turning back. But pushed by these innovations are – and have to be – regulations, and, most importantly, the security agenda. Regarding this issue, Paro Neto clarified that this is actually a game-changing factor, especially for e-commerce. “We need to prepare the authentication process in the e-commerce environment (…) This will completely change the environment – conversion and approval rates in e-commerce will take a big leap after that.” 

João Pedro Paro Neto and Fernando Teles took the stage of the Latam Cross-Border Summit, a payments focused event powered by the Brazilian fintech EBANX, and held in Rio de Janeiro, Brazil. With more than 200 attendees, among which there are companies and specialized entities, the event takes place from September 23rd to the 26th. 

The sessions and keynotes are being handled by some of the biggest names in global and local businesses and institutions from sectors such as technology, retail, payments, regulatory, as well as some experts of EBANX. Amazon, Endeavor, DHGate, and the Brazilian postal service; Correios, were among some of the speakers for the Latam Cross-Border Summit.