"Financial inclusion is an example of the contribution of public policies to the development of the digital economy. With or without law, progress is being made towards digitalization," said Vallcorba.
Regarding the modernization of payment systems in the country, the head of the MEF presented their evolution in the last three years. He said that there is an increase in the use of debit cards, which grew by 724%, to the detriment of cash withdrawals, and an increase in the use of transfers (184%) in contrast to the 14% decrease in the use of checks.
Meanwhile, BCU Payment Systems Manager Jorge Xavier, citing the World Bank, highlighted Uruguay's position as a "paradigmatic example" in terms of financial inclusion.
Xavier also referred to the BCU's regulatory focus, based on the identification of new products and services.
"Our regulatory focus should be on the identification and treatment of new products and services rather than on who the participants are. This costs a lot in a central bank, which has to change the logic, needs and incentives of the different players," he said.
Xavier added that the main challenge is related to the potential of information and its good management. He clarified that the design of regulatory standards is based on a "deep dialogue with the different actors" and the development of "open door policies".
"We contribute to the creation of a regulatory environment, balanced, and we also have action on financial and digital education," he said.
The event, which brought together hundreds of businessmen, technicians and entrepreneurs in the digital world, featured conferences, plenary sessions and workshops that addressed the main challenges of digital evolution, the integration of online and offline media and the customer journey.
Source: RevistaUy
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