One of the next milestones will be to spread QR code payments via cell phone, anticipated from the Central Bank of Uruguay.
The vice president of Central Bank of Uruguay (BCU), Washington Ribeiro, assured that one of the objectives regarding financial inclusion is to move forward with Quick Payment System so that merchants can collect in less time and with lower costs.
In turn, the BCU plans in the short term to expand the possibility of Uruguayans can make payments with the cell phone, by scanning a QR code in different locations throughout the country.
This is what he anticipated Ribeiro when speaking at the fifth annual meeting of the FintechLAC Network, organized by the Inter-American Development Bank (IDB) in Bogota Colombia, where it aimed to generate more efficiency in the commercial sector and facilitate citizen transactions.
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The BCU defended the Payment System
During the meeting on the growing role of fintech, The vice president of the BCU also highlighted the fulfillment of goals in the Payment System roadmap, such as multi-acquisition, the digitalization of checks, the masking of bank accounts, instant transfers 24-hour interbank services and the use of the cell phone number as alias, among other.
Another contribution that he considered key was the creation of the Innovation Office, in charge of monitoring innovative projects internationally and in the country, whose head Nicolas Serrano He also participated in the meeting.
Ribeiro considered that the instrument will give more efficiency to payments, competing with traditional electronic means. “It seeks to give greater strength to the operations of debit, “That the money reaches the merchants faster and at a lower cost,” he said.
Refering to open banking and to the regulatory challenges in the future, he maintained that the idea is to “guard the interests of the users, who are the weakest in the system, but also to carry out a regulatory scheme that allows the private sector to incorporate and promote innovation and, therefore, therefore, the productivity”.
Source: Ambito
