Mastercard predicts 2022 trends in Latin America including blockchain, cryptocurrencies and 5G

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Thiago Dias, Mastercard Vice President Fintech Enablers for Latin America, announced the 5 fintech trends for 2022 in financial services in Latin America including blockchain and cryptocurrencies.

In the statement signed by Thiago It points to the evolution of financial systems fueled by the coronavirus pandemic, which has served as an engine for fintech innovation. He points out that a study by Americas Market Intelligence and Mastercard found that digitalization of financial services is the path taken in Latin America.

Mastercard predicts 2022 trends in Latin America including blockchain, cryptocurrencies and 5G
Mastercard predicts 2022 trends in Latin America including blockchain, cryptocurrencies and 5G

The more frequent interconnectedness of data on a global scale allows all sectors to keep innovating, hence banks are expected to continue developing more reliable, faster and more transparent digital tools in 2022.

Among the trends of this year 2022 is the modality “buy now pay later”. It is a modality that, according to the study, has contributed to the financial inclusion of thousands of people in Latin America.

in the note, The Vice President recognizes that the future of finance is blockchain and cryptocurrencies, because versatility and transparency of the processes are of crucial importance for financial transactions. “Blockchain and cryptocurrencies have the power to revolutionize the financial industry,” emphasizes Thiago.

Mastercard has allowed payment with cryptocurrencies, as in the case of Gemini, and so, on other occasions, Mastercard cards have been issued to process payments backed by cryptocurrencies.

Within the trends, 5G cannot be ignored, and the obvious thing about the speed of this promising technology is in the data processing, more speed, more transparency means more transactions. In short, the traditional financial consortia are converging in the transactional use of their services and now the platforms of the new banks, which are not limited to just using a bank account and card, but are also expanding the portfolio of financial services .ZU

In Latin American countries, the use of new technologies is still a condition for fintech, constant innovation has allowed them further growth, and the adoption of blockchain and cryptocurrencies is more than usual. Current trends are forcing financial services to stay on top to be part of this 4.0 revolution.

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