VIEW FROM THE TOP
RAPID INNOVATION, TECHNOLOGIES HELP EXPAND REACH LUZ ADRIANA RAMÍREZ Director General of Visa México
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Q: What role does Mexico play in Visa’s global operations?
established an alliance with IBM Watson to provide more
A: Visa México works with a strong vision: be the best way
secure payments. A combination of Visa’s global payment
to pay and be paid for everyone, everywhere. Our mission is
capacities and Visa Token Services with IBM cognitive
to connect the world through the most innovative, reliable
computing and data analysis capabilities of Watson’s IoT,
and secure digital payment network that enables individuals,
will make possible contactless payments with devices like
businesses and economies to thrive. We connect businesses,
home electronics, automobiles and daily wearables.
financial institutions and customers and allow them to make payments safely and efficiently. Mexico is the second-largest
Q: How is Visa helping to increase Mexico’s low rate of
economy in Latin America, making it the second-most
financial inclusion?
important country for Visa in the region.
A: In developing economies, mobile money systems are bringing secure digital payments to millions of people
Q: 3Q17 results showed that its volume of payments grew
previously excluded from the financial mainstream. Financial
38 percent over the previous year. What contributed to this
inclusion is one of Visa México’s main priorities because our
growth?
biggest challenge and competitor is cash. Only 15 percent
A: Rapid innovation is encouraging the proliferation of
of the country’s Personal Consumption Expenditure (PCE)
technologies that improve and expand our reach. Visa was
is made through digital payments and in Mexico only
built on the notion of universal access and we are making it
40 percent of the adult population has access to a bank
even more open. Visa has been working to become the leader
account or a formal financial service. For this reason, we
in electronic payments through a radical transformation of
are approaching this area of opportunity through two lines:
its business model. Clients, fintech companies, equipment
special products aimed at the unbanked population and
manufacturers and other players now have access to the
infrastructure for businesses that accept only cash. Together
Visa Development Platform and the Application Programing
with OXXO and Citibanamex, we have developed products
Interfaces (APIs) to co-create customized solutions. We have
such as the Saldazo debit card, a card that can be used for
also developed seven innovation centers around the world
savings and deposits. So far there are approximately 7 million
in which we apply a human-centered design methodology.
Saldazo cards circulating in the country and for almost 42 percent of the users of this service it is their first experience
Q: How does consumer behavior influence Visa’s innovation?
with a financial product. Regarding infrastructure, we are
A: We are living through a commercial revolution driven by
trying to increase the acceptance of cards at businesses that
the IoT. In Mexico, as in the rest of the world, consumers
only take cash. With Grupo Bimbo we have included POS
want to make transactions anytime, anywhere and
terminals in more than 70,000 small supermarkets.
through any device. For this reason, we are developing an infrastructure for mobile payments. Supporting these
In Mexico, financial exclusion has the same geographical
advancements are Visa Digital Solutions and Visa Innovation
distribution as economic development and our inclusion
Centers that provide the tools and environments for rapid
efforts include working with the government. Finally, we
innovation. Visa Digital Solutions is a growing portfolio of
have been working with Grupo Gentera, which traditionally
Visa payment services and authentication technologies that
has offered credit to SMEs led by women.
enable tokenization, online commerce and person-to-person payment services to be securely embedded in new products in a plug-and-play mode. In Mexico, we are building POS
Visa is a technology payments company present in 200
terminals for Near Field Communication (NFC) payments
countries. It is one of the world’s leading commercial networks
and by the end of 2017 we expect that 30 percent of the
and financial services providers. Visa offers different payment
POS terminals in Mexico will have NFC capability. Visa also
products to connect consumers, businesses and governments
