On October 26 and 27, the leader participated together with the Payment System manager, Ana Claudia de los Herosand the head of the Payment System Department, Antonio Zarrillofrom the first “Regional Instant Payments Forum” held in the city of Quito, Ecuador)hosted by Central Bank of Ecuadorand joint organization between the FLAR and the International Monetary Fund (IMF).
The space was dedicated to the exploration and analysis of issues related to instant payment systems and cross-border payments, as well as their regulation, supervision and strategies for their future implementation and development in the region.
Over there, Ribeiro pointed out that “Uruguay is in a process of change and modernization of the payment system” based on “four main tasks”, which are “to lower the inflationprovide the financial system with solvency, promote financial education and modernize the payment system”.
“Uruguay has a fairly fragmented payment system”
“Uruguay has, or had, a payment system that is quite fragmented and not updated”, since “it has not accompanied Uruguay the processes of technological change that have been seen in other countries in the world”.
On this point, Ribeiro explained that the BCU drew up “two roadmaps, one from 2020 to 2022 and another from 2023 to 2025”, where progress was made with “important milestones such as the digitization of checks” and “the implementation of an alias for instant transfers” .
“Now we are promoting, together with the private sector, a rapid person-commerce payment system, where we understand that starting next year Uruguay “It will be in tune with other payment systems in the region and the world,” he said. Ribeiro.
For his part, the accountant Zarrilloexplained before the forum that the BCU is working on “accompanying and directing the development of the Rapid Payment System in the private sector, with centralized and guaranteed settlement in BCU accounts”, and that it is working “concomitantly on the regulatory obligation of interoperability”.
Source: Ambito
