The CEO of PayU Latam, Francisco León, in an interview with PYMNTS highlighted the role of Latin America in the digital transformation of payments, in addition to the boom of Super Apps for consumers and SMEs. Likewise, he referred to the potential for a higher level of cooperation and collaboration between the different actors of the ecosystem in the region. Rebound in digital payment transformation in Latam For the CEO of PayU Latam, Francisco León, Latin America leads in many ways the global digital transformation of payments through endless innovation and new forms of partnership.
Super Apps for consumers and SMEs in Latam
According to PayU’s senior executive, Latam ranks second after China in the development of super applications. The reason for this result is the high penetration of smartphones in consumers’ homes. A scenario that becomes an ideal testing ground for super applications and new forms of instant payments, from “person to person” (P2P) to the growing use cases around “person to merchant” (P2M). In the case of SMEs, León cited the India WhatsApp Number Data work of PayU in Colombia, where the super application Treinta has more than 4 million registered users. He also said that with this Super App, this ecosystem of cooperation is being created with the different actors that can provide and add more value to the merchant.
The time for strategic alliances
The CEO of PayU assures that the formation of a digital economy in Latam requires a higher level of cooperation and collaboration between the different actors in Italy WhatsApp Number List the ecosystem. “From the PayU side, we always thought that we need to look at how to collaborate with different partners in the region, trying to bring expertise to our service and maybe add value that way,” León said. Likewise, he indicated that in the face of a year of scarcity in investment capital, 203 is an appropriate time to put aside territorial and ownership points of view and focus on collaboration. The payment platform leader referred especially to large banks “that are generally trying to get part of the payments ecosystem.
