Throughout 2020, positive transformation has been driven by technology companies looking to reach new consumers among the millions of commercial interactions that now are held online.
Regarding payments, the drift towards digitalization that was occurring, has been accelerated by the pandemic. This might be the biggest change the industry has faced as there is no possibility to retrace it.
The complexity that the payments ecosystem presents has led us to develop One Touch, a payment solution based on two pillars: immediacy and security.
One Touch can be integrated from a simplified integration process through an auto enrolment channel, with little to no IT intervention required on the merchant side. It provides the possibility of identifying users from a single code, as well as to have a closed loop on them diminishing the chances of fraud. Receiving deposits from a simple touch, with automatic approval for recurring users, generates greater fluency and less friction in the interaction between the merchant and its customers. KYC verification and identification controls are performed on the philosophy that payment services, apps and wallets are the best players to foster the relationship between user and service, since they are well positioned for best knowing the customer and tailoring the experience to their security and usability needs.
As for 2021, we believe the focus will be in instantaneity, user experience and security. The innovations that were led by fintechs and wallets will be accelerated in 2021, and those that provide faster and tech-friendly ways of using money and paying for services will be at the forefront.