In August of last year, Visa moved the crane of the payment media and hired the then CEO of SB Pay, Victor Wipe, as Country Manager for Chile.
His first year in the international company has had a series of Challengeswhich were recently crowned with The realization of the Visa Payment Day for the first time in Chileevent that congregated the financial ecosystemwith about 200 large customers on the market, such as banks, issuers, among others, to address Future Trends of Payment Means.
“The Chileans are going to see a change and partly also a democratization of transport,” said Wipe, adding that it will be a contribution to tourism.
For Wipe, the fact that Visa has chosen Chile to do so reflects the development of the local market. “Chile is within the countries with the greatest development of the planet’s payment, not only in Latin America,” He raised.
In that context, he explained that “the four -part model that was recently modified and adjusted has a fairly high implementation, just like Australia, Singapore, New Zealand. Chile is in that league of countries from the point of view of the development of means of payment.”
Now, Visa prepares for a new challenge: landing with non -contact payment, what should be done in the coming months. They left with EFE trains in Valparaíso and Chillán and Wipe said that Rancagua and Central Station are now coming. The great novelty of the year, by the magnitude, will be subway.
The company has ventured into this model that departed in the London Metro as a historical milestone and has been successful. This technology allows you to pay without contact and that “It takes friction to the system”said.
-“The Chileans are going to see a change and in part also a democratization of transport ”, He raised. This, for example, would allow Promote tourism“Because Chile when you receive a tourist, for example, in Valparaíso, in the south or anywhere who wants to use trains or wants to use a subway, we make it difficult for the tourist. With this, we make the tourist easy,” he said.
Metro launch is estimated to occur in the coming months in coordination with the Ministry of Transportation and It is expected to generate about 700 million transactions per year. Meanwhile, if trains are added, they would be more than one billion transactions a year.
Payment growth with cell phone
Regarding payments without contact with mobile devices, Country Manager also highlighted the Increase in payments with cell phonethe one that has little competition with respect to other types of devices. “We have seen a Important rise in all segments in the use of payment through touching or bringing the phone ”what is known as “tapas.”
“That payment experience that we are taking to Metro, which you can use in any trade, is by far the best and also by far the safest, because you have to pass all the authentication methods,” he said.
Thus, he said that “The wallet growth rate (digital) is much more important than the growth rate of physical cards” and estimated that “In the medium term the wallets will be the preferred means of payment.”
Cybersecurity
Another relevant issues for the industry and for visa is the Cybersecurity. Wipe assured that “Being up to date with avant -garde solutions in fraud prevention is part of the financial business of any institution “.
In that line, he said that “technology is advancing and does not wait for anyone. You can’t say ‘I will relegate investment and I will do it in three more years.’ No, it is an obligation, it is part of your business,” he said.
