Payments Systems in LAC: Non-Bank Organizations Entering the Arena
Banks, take notice. Innovative changes in the payments industry, brewing for years, have culminated in several companies generating impressive revenues, increased efficiencies, and clear advantages over traditional banking payment strategies that have failed to deal with cash as the main alternative for a large segment of the population.
One of the most interesting developments revolves around companies that began as web-based payment services supporting on-line purchases and C2C transfers now making the transition to ‘real-world’ transactions. These companies are leveraging great results achieved in global e-commerce and are entering the banking arena with new approaches, views, and flexibility that traditional financial institutions frankly may have a hard time matching.
In this Strategic Commentary titled, “Payments Systems in LAC: Non-Bank Organizations Entering the Arena” Speer & Associates, Inc. (S&A) provides an overview of selected LAC companies bringing innovative options to an otherwise ‘standard’ bank card and cash-dominated market.
