- How to address the imminent challenges of this digital change in the region: trust, security, convenience for consumers.
- Identifying the innovative technologies and solutions that will lead to a thriving digital region.
Miami, November 27, 2018 – The internet is changing how we socialize, work and share information, and how we purchase, sell and interact in commerce. This transformation is happening extremely fast and will most likely pick up speed. But what will the future of payments really look like in Latin America and the Caribbean?
To bring the discussion to the table and explore answers for the challenges that a digital transformation presents, Mastercard will host its seventh edition of the LAC Innovation Forum “Limitless: Enabling a digital world with infinite possibilities” on November 27th and 28th at the Fontainebleau Hotel in Miami Beach.
The forum brings together executives from the financial world, as well as merchants, thought leaders and world’s top tech experts in their respective fields, to discuss ways to forge a more inclusive future in Latin America and the Caribbean through digital innovation, as well as the best path towards building a trusted, secure and convenient digital transaction space while harnessing the power of the digital world.
“At Mastercard, we want to be at the forefront of the digital payments revolution through innovation, and we are working diligently to ensure that we can contribute to the digital future of our region in the best way possible, aiming to provide not only convenience and secure online transactions, but also financial and digital inclusion for all,” affirms Carlo Enrico, President of Mastercard, LAC.
Some of the topics that will be discussed revolve around the innovative technologies that are transforming and impacting businesses, societies and countries, such as: Artificial Intelligence (AI), blockchain, data security, and how to leverage these technologies and implement the solutions available to address the challenge of keeping payments secure while building trust on both sides of digital transactions.
Online payments are growing exponentially and will soon surpass physical payments in terms of relevance. E-commerce in LAC is growing from a market of 126 million people in 2016 to 156 million people in 2019, while e-sales are expected to double from $40 billion in 2016 to $80 billion in 2019. It is evident that we need to take advantage the available technology to innovate and build trust in today’s digital world, while enhancing the consumer experience.
“We are living a time of great challenges and opportunities for the region in terms of digital transformation and innovation. In the industry, Mastercard plays a key role to promote collaboration, and works together with key players to create a consumer-friendly, transparent, and secure transactions space in LAC, allowing the region to leapfrog into the digital future and thrive in e-commerce,” confirms Carlo Enrico.
In addition to the presentations, the forum will showcase a variety of the most innovative solutions allowed by limitless technologies to key stakeholders from the payments ecosystem. Biometric Cards, for example, allow consumers to verify their identity using their fingerprint for in-store purchases, as an alternative to PIN or signature authentication. Furthermore, NuDetect uses Behavioral Analytics and collaborative AI to help identify authentic users from potential fraudsters based on their online, mobile app and smartphone interactions, among many others.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau
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