Over the last few years, we have seen that the smartphone has been incorporating more and more functions and taking on the role of different devices. A great example is how it practically replaced several segments of the industry, such as the digital camera, the GPS device, the MP3 player, the calculator, among others. In other words, the smartphone could be considered a true “Swiss Army knife” of technology today, and moving in this direction, today it advances in the means of payment sector as well.
Recently, Apple announced the launch of the functionality that allows the iPhone to be able to receive payments by approximation through NFC technology, which turns it into a “payment terminal” for the merchant. And around here, GERTEC, attentive to the news and innovations in the sector, has also just launched its Tap2Pay solution, which will allow any Android smartphone with NFC technology to also become a payment terminal.
It really is a great evolution for the means of payment industry, and this subject has aroused many discussions in the market about the future of the so-called “card machines”.
The reality is that the means of payment sector is undergoing major transformations, and the result is an increasingly significant change in the way money circulates and is transacted. The volume of “in-kind” money circulating in the economy has been reduced quite significantly in recent times. According to BC data, between January and October 2021 alone, the reduction was R$ 40 billion, and a large part of this change has been driven by the advancement of technology, greater competition in the sector and also by the maturation of the market, which today has a greater offer and access to digital financial products and services, including new forms of payment such as PIX and digital wallets, for example.
In this scenario, we can see that digital payments are growing at full speed in Brazil and both PIX and credit card use continue to break successive growth records. According to data from Abecs (Brazilian Association of Credit Card Companies and Services), the card sector grew 33.1% in 2021, reaching a transacted volume of BRL 2.65 trillion, which represents a new record level for this market. The reality is that the credit card has become one of the main lines of credit for the population today. The PIX also continues with successive growth records, and today it is already one of the main payment methods used by the population in general.
Another important data on the evolution of the means of payment market is the growth of contactless transactions (NFC). This payment method has shown strong growth in recent times, mainly driven by technological developments (greater number of NFC cards and acceptance terminals), but also by changes related to consumption habits that occurred during the pandemic. Also according to Abecs, the volume of approximation transactions grew by 384% in 2021, which means that one in four face-to-face transactions takes place through approximation, and the estimate is that it will reach half by 2022, that is, the The proximity transaction (NFC) market is booming in Brazil.
Faced with so many changes and innovations, it is possible to imagine that the “end of the machines” is near, but in my opinion, the reality is that the payment method market has been evolving over the last few years in a direction that indicates a new format. much more of inclusion and complementarity of technologies and forms of payment than of replacement or obsolescence of current technologies. In other words, we are moving towards a world of payments with many more offers of products and solutions that help the merchant to deliver a better user experience and customer service. It is likely that we will have many options available, and both the consumer and the retailer will be able to choose what makes “the most sense” for their use, according to the benefits and advantages of each.
The market for “maquininhas” as we know it has also been evolving and changing. If we look, for example, at the current Android payment terminals, known as SmartPOS, we see that they are much more similar to a POS (cash terminal) for the shopkeeper due to their processing capacity and resources, than traditional POS terminals (cash machines). card) that only make payment. Therefore, it is possible to assume that all those equipment that the shopkeeper currently has in the cashier terminal (POS), which in most cases includes: computer, printer, pinpad, readers and other peripherals, could be replaced by a SmartPOS integrated with the commercial automation. This would allow for lower costs, mobility and better use of physical space for the shopkeeper, or even, it could work together with the traditional cash terminal (POS), expanding the capacity and quality of service at the commercial establishment.
As we have already said, technology has been the great agent of transformation in the world we live in, and this movement is gaining more and more speed every day. Perhaps if we look at it more broadly, we can even wonder about the existence of the smartphone itself as we know it in the coming years. Will he also transform? Or will it cease to exist? We will see the next chapters. But the key point is: the advent of new technologies will increasingly give other meanings to everything we already know. Let’s be prepared for the future that starts soon.
By Wilton Brito, executive of the Gertec Group.
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