UCommerce: Electronic Payments, Economic Growth, and Financial Efficiency

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U-CommerceElectronic Payments, Economic Growth,
and Financial Efficiency
UNCTAD Financing for Developmente-Finance for
DevelopmentMonterrey, Mexico 19.03.2002

• William ReidGlobal Product Director, New
  Platform DevelopmentVisa International

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(No Transcript)
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Challenges and Opportunities

• Context
• Trends
• Segments
• Prescriptions

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Context

• 1914
• 21,000
• 1 Billion
• 2 Trillion

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U-CommerceAnywhere, Anytime, Any Way
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Trends
Ubiquity Customization Efficiency Trust
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Payment technology is becoming more ubiquitous
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Customization can empowerany sector of any
society anywhere in the world
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E-payments are efficient
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E-PaymentsEngenderTrust
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Implicationse-payments

• Remove friction, increase efficiency gt
  strengthen the economy
• Increase the banked population gt strengthen the
  banking sector and commercial lending
• Benefit all players
• Improve macroeconomic control, oversight
• Free up liquidity
• Improve tax compliance

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Prescriptions

• Embrace payments technology for economic
  development
• Support evolving structure of u-commerce
• Strengthen domestic banking system
• Review and align infrastructure with
  opportunities
• Eliminate regulatory barriers to innovation

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Conclusion