The digital means of payment They had a massive boost during the pandemic and today they are still used, especially since most people use a cell phone or smartphone through which they can carry out different financial transactions without having to resort to cash, in this way 50% of the population makes this type of payment in Latin America. This transformation in consumption habits advances hand in hand with technology and there is a growing demand for payment in public transport services in Latin America for this 2023according to Paymentology.
“We are having many requests from companies that seek to use a digital payment method for the metro, for the metrobús and for all these public transports that are available throughout Latin America,” said Alejandro del Río, regional director of Paymentology for Latin America.
In this way we have gone from making payments with cash to a card, then with a cell phone and today they are being made with smart watches, explains Adrián Ramírez, regional advisory director. In addition, technology allows the means of payment to add more capabilities or features that make it more necessary and also secure, either to prevent fraud or to protect the information itself, he pointed out.
Artificial intelligence for fraud prevention
The specialists explained that by being an intermediary between users and companies, they obtain all the information of the transactions, in this way they can build a profile of the clients and know their behavior. That is where artificial intelligence comes in, because through historical information certain unusual behavior can be detected.
“The more information an engine is provided with artificial intelligence, the prediction is much better to be able to identify if any transaction belongs to the user or not and from this way we can precisely prevent much more fraud. Without this technology, it would really be very difficult to address these types of issues,” Ramírez explained.
Source: Larepublica
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