IMPACT OF TECHNOLOGY IN EXPANDING ACCESS TO PAYMENT AND REMITTANCES SERVICES: AN HOLISTIC APPROACH

Transcripción

1 Seminario: La Experiencia de los Corresponsales como Canal de Distribución de Servicios de Pagos y Remesas: Logros y Oportunidades IMPACT OF TECHNOLOGY IN EXPANDING ACCESS TO PAYMENT AND REMITTANCES SERVICES: AN HOLISTIC APPROACH Fabiola Herrera Directora Depto. de Sistemas de Pagos Banco Central de la República Dominicana Marzo 2014

2 AGENDA 1. A NEW PLAYING FIELD 2. BALANCING ACT 3. THE CHALLENGE FOR TECHNOLOGY 4. TECHNOLOGY AND PAYMENT SYSTEMS IN DR

3 A NEW PLAYING FIELD 1. OLD PLAYERS: BANKS (FI) ISSUERS REGULATORS 2. NEW PLAYERS: INTERNET MERCHANTS PAYMENT SERVICE PROVIDERS (PSP) OPERATORS TELCOS TECHNOLOGY SUPPLIERS EDUCATED (YOUNG) CUSTOMERS

4 AND IN THIS NEW PLAYING FIELD WE NEED TO PROMOTE FINANCIAL INCLUSION, FOCUSING ON ONE CHANNEL: AGENT BANKING AND ONE SPECIAL TYPE OF PAYMENT: REMITTANCES

5 THE CHALLENGE: NOT TO LOVE TECHNOLOGY FOR ITSELF (BUT FOR WHAT IT CAN HELP ACCOMPLISH) THE OPPORTUNITY: TO DEVELOP TEHCNOLOGY SOLUTIONS FOCUSED ON CONSUMER NEEDS SO, TECHNOLOGY AND FINANCIAL INCLUSION TODAY: MIX WELL OR OIL AND WATER?

6 NATIONAL PAYMENT SYSTEM CIRQUE DU SOLEIL BALANCING ACT INCREASED CONSUMER DEMANDS LEGACY SYSTEMS NEW NON-TRADITIONAL PLAYERS TECHNOLOGY NEW CHANNELS

7 Technology and Payment Systems in DR

8 Incorporación de todos los participantes y operaciones Banco Central Bancos Múltiples Asociaciones de Ahorro y Préstamos Interbancarios Operaciones BCRD Valores Divisas DOP Seguridad Social OMAS Cheques POS USD ATM ACH Pagos móviles Visa / Mastercard Bancos Ahorro y Crédito Depositaria de Valores Puestos de Bolsa Corporaciones de Crédito Tesoreria de la Seguridad Social

9 Todos los derechos Central de la República Dominicana Todos los sistemas de pago del país SISTEMAS Cámara de Compensación ACH Cajeros Electrónicos Puntos de Ventas Tarjetas LBTR Mercado de Valores Pagos Móviles Mercado Fx INSTRU- MENTOS Cheques Débitos y Créditos Directos Tarjetas de Débito Tarjetas de Crédito Interbancarios y Operaciones BCRD Títulos- Valores Pagos y Transferencias Ops. Mercado Cambiario Administrador del Sistema CEVALDOM Compensación x CEVALDOM Liquidación

10 Expansión del uso de los instrumentos de pago, en especial electrónicos

11 Un público receptivo a las innovaciones financieras

12 Volumen de operaciones Instrumentos de Pago (En miles) 43.1% 72, , , , , , , , , , , , , , , , , , , , , , , , , , Cheques ACH Tarjetas de crédito Tarjetas de débito Pagos móviles Fuente:

13 Pagos móviles Fuente:

14 Usuarios Pagos Móviles , , , , , , ,218-65,098 Ene-11 Dic.11 Dic. 12 Dic.13 Fuente:

15 3M: MARCOS, MARCELO Y MARCO

16 Questions

17 AS THE TOP THREE TECH ISSUES ARE: -PAYMENT PROCESSING -INTERNET PAYMENTS -MOBILE PAYMENTS 1. DO YOU THINK THAT BANKS AND NON-BANKS ARE COMPETING IN THE PROVISION OF PAYMENT PROCESSING SERVICES, AND THEIR PATHS OFTEN CROSS BECAUSE OF ROLE SWITCHING? WHO DO YOU THINK SHOULD PROVIDE THE SERVICE AND WHY? 2. ARE TECH SOLUTIONS FOR INTERNET PAYMENTS DIVORCED FROM REALITY? FROM YOUR PERSPECTIVE, WHY SO MANY INTERNET PAYMENT INITIATIVES HAVE FAILED IN THE PAST? 3. IS MOBILE PAYMENT A TECHNOLOGY THAT REALLY DOES NOT INCREASE THE COST OF PAYMENTS FOR MERCHANTS AND/OR CUSTOMERS? 4. WHAT DO YOU THINK WOULD BE A FAIR BUSSINESS MODEL FOR BOTH BANKS AND PSP AS WELL AS A VALID PROPOSITION FOR CUSTOMERS? (TECH BASED)

18 5. HOW CAN TECHNOLOGY HELP OVERCOME THE RESISTANCE OF THE UNBANKED TO STOP USING CASH? 6. HOW TO LEVEL HIGH-END TECHNOLOGY WITH TECHNOLOGY ILLITERATE CUSTOMERS? 7. FINALLY, HOW CAN TECHNOLOGY HELP FINANCIAL INCLUSION?

19 Before we go

20 BENEFITS OF THE USE OF TECHNOLOGY: More options and financial services Increased use of electronic services (LESS CASH) More services providers Informed and empowered customers, financially educated More access to financial services Society s wellbeing

21 THE TECH CHALLENGE IN PAYMENTS AND REMITTTANCES BETTER-FASTER-CHEAPER-AVAILABLE-FRIENDLY VS SAFE-SECURE-SUSTAINABLE INTEROPERABILITY, PENETRATION, COMPETENCE

22 Financial inclusion and banking the unbanked is everybody s task

23 Seminario: La Experiencia de los Corresponsales como Canal de Distribución de Servicios de Pagos y Remesas: Logros y Oportunidades MUCHAS GRACIAS