- “Limitless: Enabling a digital world with infinite possibilities” united some of the key players of the payments industry to think big on the promising future of digital in Latin America and the Caribbean (LAC).
Miami, December 3, 2018 – Mastercard, a technology company in the global payments industry, held the Mastercard LAC Innovation Forum in Miami Beach last week, bringing together executives from all over the payments industry: issuers, acquirers, retailers, government officials, central bankers, fintech firms, thought leaders and the 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.
“The payments industry in LAC is promising, full of great opportunities in terms of financial inclusion and digital. Today 46% of adults are un-banked. That is a social and economic problem; meanwhile 80% of all the transactions are still in cash”, commented Carlo Enrico, President of Mastercard, LAC, during the Forum. “We are living a critical moment; technology is driving financial inclusion, and is growing 2.5 times faster than traditional physical transactions. We need to leverage the digital space to boost the growth of the economies,” he continued.
During the two days, 1,300 participants from 70 different nationalities had the chance to learn from top speakers about some of the challenges, great opportunities, and most innovative technologies available to build a trusted, secure and convenient digital transaction space in LAC, while harnessing the power of the digital world.
The forum included a robust agenda that covered inspiring topics, from the evolution of digital payments, cybersecurity and consumer trust, to artificial intelligence, blockchain and financial inclusion. A line of renowned speakers such as: Thomas Hendrik Ilves, former President of Estonia; Rachel Botsman, author, trust expert and Oxford University Lecturer; Don Tapscott, author and leading authority on blockchain, and Richard Branson, Entrepreneur and Founder of Virgin Group, shared their expertise and discussed the limitless nature of today’s world and the digital future.
Additionally, Mastercard and The Fletcher School at Tufts University unveiled the Latin America and the Caribbean (LAC) edition of the Digital Evolution Index (DEI), an in-depth regional analysis that includes a study of the pace of digital evolution of 24 LAC countries, across four key drivers of supply, demand, institutional environment and innovation. It utilized data over 10 years (2008 – 2017) to create an overall digital evolution score and digital momentum score.
Attendees also participated in 27 breakout sessions with over 50 speakers to discuss specific topics related to the payments industry, such as the needs of the digital consumer, enabling simple and secure digital payments, and the latest technologies that are building a frictionless and user-friendly e-commerce experience, among others.
In its seventh year, the Mastercard LAC Innovation Forum has come to be considered the most important in the digital payments industry in Latin America, attracting senior executives from issuing and acquiring banks, merchants, payment facilitators as well as technology companies. Attendance has more than quadrupled since the first edition in 2012, reaching a high of 1,300 attendees from all over the region and the world.
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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