Wednesday , June 26 2019
Home / mexico / it will be enough if we get closer to the terminal to make the payments

it will be enough if we get closer to the terminal to make the payments



The diversification of electronic and digital forms of payment aims to displace the cash in Mexico. The challenge is not insignificant: according to Luz Adriana Ramírez, General Manager of Visa México, 85% of total consumer spending is in cash,

Recently with Rapi is now Banopel's turn; A few weeks ago, Visa secured bank cards contactless with the first one, but the agreement with the agreement will allow for a more powerful operation with an opportunity to reach 28 million customers of the bank, which has more than 1100 branches in 450 cities across the country.

Maps work like other maps we already know on the market: they include NFC to be perceived by a terminal (which of course should be contactless also) so that the card does not slide or enter for reading.

The technology, according to Ramirez, will stimulate the use of cards and, with it, the elimination of cash for transactions. There is only one problem. Being a way contactless equipped with a physical card, there is no way for the user to check if it has passed biometric mechanisms (as a fingerprint for Samsung Pay) upon purchase.

Img 20190612 093736

The resolution is effective but can limit the use of technology: the practicality of making payments only by card insertion in the terminal and no more than this applies to transactions below 400 pesos; If higher, users must sign a voucher or enter an electronic signature.

More than three million people use contact before the end of the year

The goal is about 10% of BanCoppel's users to use the technology by the end of the year. In particular, the goal is 3.5 million customers migrate to the new map in the next six months.

In the demonstration zone, we managed to take advantage of one, and under controlled conditions, the mechanism proved to be efficient and extremely liquid. Once the transaction amount has been entered into the terminal, the card has worked by approaching no more than five centimeters for a time period that does not exceed two seconds. Separating it immediately, we waited another 15 to allow the terminal to process the payment and print the voucher.

BanCoppel claims to be the second largest debit card issuer in the country and the third largest credit card issuer, hence its vast customer base

The technology will reach both credit and debit cards and must now be available in all branches of the bank. The cards have a badge on the right side that distinguishes them from the others. For bank users, renewing your card will have no extra cost for the technology, just the amount that is being spent on replacing plastic. Amounts are 40 pesos in case of credit cards and 30 peso for debit.

Img 20190612 094014 2 Julio Caranzza, Managing Director of Bancoppel

The point is that in order to receive payments in this way: a terminal updateOn this issue, Ramirez said Visa "is investing heavily" to make the transition. It also refers to mobile terminals that become very popular (such as Clip), compatible with the way contactless,

Finally, with an explicit question about CoDi, the standard encouraged by the Banco de México to move money using QR codes, Carranza said that contactless this is just another alternative to facilitating the digitization of transactions, not a competition of the standard. He also said that the bank is already testing the technology with the help of Banxico.


Source link