Driving Digital Innovation in Mexico: Design. Build. Deliver.


New and powerful competitors, along with the growth of Internet payments and mobile penetration, are changing the shape of the industry worldwide.

 

We´re currently at the gates of another change in the omnipresence of payments – and in what it means to be “everywhere”. Almost every connected device can become a shopping portal. This is the new era of connected commerce.

 

Mexico hosts approximately 65 million internet users, representing a penetration of 59.8% of the total population.[1] Possession of devices is high; half of surveyed online buyers say they have access to three devices (computer, smartphone & tablet), and report 95% of online buyers have used some type of payment funded with bank accounts or credit or debit cards, and 44% also continue using offline payment methods[2], proving that connectivity and consumer behavior are changing the ways in which shopping and payments are conducted.

 

And as the number of globally connected devices increases – along with the adoption of new technologies by consumers – our capacity to provide support to the development of innovative solutions to commerce increases as well. Our differentiator: a collaborative approach to provide support to global commerce,

together with our network capabilities, and our products and services. 

 

We recently announced Visa Developer Platform, which represents not only another point of access to our network, but also a new platform for the distribution of Visa products and services around the world. The financial technology industry, along with an increase in product and services digitalization, creates opportunities to innovate and satisfy the customer´s needs. Under this scenario, Visa Mexico brought together the FinTech community in a single event where Luz Adriana Ramirez, Country Manager, Juan Carlos Guillermety, VP of Products and Visa Developer Platform leaders Susan French (VP and Global Head, Visa Developer) and Brayan Peralta (VP of e-Commerce and Visa Checkout, LAC) shared their knowledge on this new platform that provides support to our clients, to our industry partners, and to developers and innovators in their mission of creating new payment methods that are both simple and secure.

 

Susan French explained this approach represents a big opportunity for both financial institutions and the FinTech community to learn how to take advantage of Visa´s API sets, as well as of the extensive materials and documentation, simple workflows, sample codes and test environments (Sandbox tests) for the development of applications. We are moving from “made by Visa” to “enabled by Visa”.

 

Mexico is a blank canvas for the development of electronic payment methods. We´re at the start of the digital banking era and of the democratization of technology, in which the consumers are changing their behavior to demand the transformation of traditional schemes. The door has been opened to facilitate competition between the large Internet technology companies and the new FinTech startups within a fair electronic payment method ecosystem, allowing the consumer to perform transactions through any platform or channel in a secure and trouble-free way.

 

You can follow these events through www.periscope.tv/VisaMx

 

[1] AMIPCI´s 12 Study of Habits of Internet Users in Mexico, April 2016

[2] AMIPCI’s Study of Ecommerce Mexico 2015, sponsored by Visa

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