O future of payments The next five years will be marked by the replacement of passwords with biometrics, integration between Pix and the card system, and an explosion in the use of digital wallets. This was the vision shared by executives at Visa, Mastercard e How much in a panel at “Casa Adyen 2024”. The event took place in São Paulo on 6/11.
“We believe in a combination of security and convenience. By eliminating passwords and integrating methods such as facial recognition and behavioral biometrics, we guarantee greater security and agility in payments”, said Marcelo Tangioni, CEO of Mastercard in Brazil. He explained that, in addition to facial recognition, methods such as typing pattern analysis and the user's location will bring more security to transactions. The goal is a simpler payment process without compromising security.
Rodrigo Cury, Vice President of Business Development at Visa in Brazil, highlighted that Pix has already changed the market. The trend is to further integrate it with the card system, creating a hybrid system that increases security. “Pix brought a new layer of complexity, as it approaches traditional transfer systems, such as TED and SPB [Sistema de Pagamentos Brasileiro]”, said Giancarlo Greco, CEO of Elo, commenting that the use of Pix integrated with card systems will allow for a more robust and secure network.
Digital wallets
The expectation for the increase in digital wallets was also a consensus among executives. For Giancarlo, the Brazilian market is more prepared than ever for this transformation. “Today we have 7 million terminals prepared to accept digital wallets, such as Apple Pay, which shows how much the infrastructure has advanced,” he stated. According to Rodrigo, the adoption of digital wallets will be one of the main transformations in the payments market, a trend that should gain more and more space and compete directly with the use of physical cards.
In the scenario of digital paymentscard brands are also expanding their role. Giancarlo noted that the purpose of the brands goes beyond issuing cards, seeking to facilitate transactions in various ways. “Issuing cards is part of our business, but it is not the only means. Our purpose is to allow people to pay and receive the way they prefer.” In this sense, Marcelo highlighted that Mastercard has developed instant payment systems in other countries, such as the United Kingdom, in parallel with Pix in Brazil.
To sustain these changes, executives reinforced the importance of regulation. The Visa executive highlighted that the presence of the Brazilian regulator is essential to ensure that technological advancement is safe and beneficial for the consumer. “Digitalization is a trend, but regulation also plays a fundamental role,” he said. He added that tools like Drex – the Brazilian digital real – are innovations that increase competitiveness in the market and need clear rules.
