The report about digital payments comprehensively explores the latest trends and business opportunities that technology is driving.
Digital payments have exploded in emerging markets driven by the increase in contactless transactions, a result of the effect of the pandemic.
In Latin America, there is a long way to go in the digital payments industry, especially with Smart POS technologies as a catalyst of this type of payments, and also by taking advantage of the lessons learned from Asian countries.
Without a doubt, the combination of the evolution in market infrastructure, the implementation of new technologies such as the Android operating system, new regulatory initiatives, interoperability as a tool to increase the banked population and stimulate financial inclusion, and a shift in the behavior of customers; are all driving and pushing forward the POS landscape.
Smart POSs are revolutionizing the market at a time when small businesses and SMEs need solutions to cope with the impact of Covid-19. In this context, a good option for them is to accept electronic transactions and payments based on QR, NFC, and mobile wallets. MPOS offers greater convenience and affordability by providing multiple functions in single point of sale use scenarios. If we add to this the implementation of strict regulations that ensure security, there is no doubt that the path is clear for the wide adoption by businesses.
Read more: The explosion of digital wallets is starting to slow down in Latam.
The benefits increase when using the all-in-one terminals at the points of sale. This promises greater convenience for both businesses and consumers and allows the massification of digital payments. Among the benefits are low costs, cloud storage, 4G + wifi + BLE connection, data business in real-time, georeferencing, online technical support, open system and others.
Feitian Technologies, as a global player and expert in emerging markets, brings the all-in-one technology and infrastructure needed to build a solid business superstructure which empowers enterprises to be ready for the next level in market demands. As an industry leader for more than 20 years, we are pleased to present this Report, which shows an overview of digital payments in Latin America and reveals why smart POS technology is the future of fintech in the Region.