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News tagged as "Latin America"
December 17, 2013

Tecnocom Report on Payment Trends, 2013

Tags: payment instruments, Latin America, Spain | by Afi, Analistas Financieros Internacionales

Tecnocom and Afi have presented their 2013 Tecnocom Report: Trends in Payment Instruments on 16 December. This is the third edition of a study that has become a benchmark for followers of payment developments in Spain and Latin America.

The presentation ceremony was presided by Ladislao Azcona, president of Tecnocom, and was attended by Javier Rey, managing director of banking and insurance at Tecnocom; Emilio Ontiveros, president of Afi; Álvaro Martín, director of international affairs at Afi; Miguel Angel Prieto, director of business development at Tecnocom; and Javier Martín, CEO of Tecnocom.

Executive summary

April 8, 2013

Do microfinance & entrepreneurship make sense in Spain?

Tags: microfinance, development, entrepreneurship, Latin America, Spain, microenterprises | by Pilar Vereda del Abril, Ibero-American Foundation for Development (FIDE)

At the Foundation, we do believe our large experience is useful. Fundación Iberoamericana para el Desarrollo (FIDE) is working for longer than 20 years in the field of development cooperation and we consider that we have generated true development from the bottom and from the inside of Latin America. This is the model of development we promote. 

Our global world has been conceived from the top, by accumulating knowledge, technology and the interests of foreign powers, as well as local powers in developing countries. This conception of the world was imposed to some countries and cultures that did not take part of the capitalism’s core because they were just marginal or ex colonies. This model has created economic and social injustice in the world's population where the majority are in poverty and financial exclusion. Considering this situation, we at FIDE have been making proposals to make those majorities able to create their own development from the bottom and from the inside, so they have the ability to change their circumstances, the power to lead their destiny and the opportunity to design their lives.  

We propose a "from bottom" perspective to make them possible to access knowledge and technology dia and, "from the inside", we mean from their own initiatives and their own cultures to achieve its own development in harmony with nature. We make these proposals because we learned it of the majorities, because we have lived with their struggle against poverty and we checked their extraordinary life force to create their own destinies and jobs. Entrepreneurship allows for the change in the circumstances of poverty, creates wealth, and triggers development. 

Over the years FIDE foundation has supported NGO, microfinance institutions and credit unions and has created community banks, using different microfinance tools such as revolving funds, seeds banks, time banks, value chains and microcredit in such a way that from the informal economy - which is marginalization, creation, and at the same time an expression of the dynamism of civil society- three essential figures were born to fight poverty: entrepreneurs, microenterprises and microfinance

FIDE believes that first of all, development depends on the will, effort and talent of the people and their own political, social and productive organizations, besides their natural resources, the market and foreign aid. The key in development is promoting access to education, technical training, socio - cultural assets and also providing finance to allow carry out these ideas.

microentrepreneurs in Latin America

Entrepreneurs have shown that they are the new agents of development, because they produce radical changes in society, politics and culture, in production, in the market and in the territory. Most of them are self-employed and create micro-enterprises in their efforts to escape poverty, and their small income comes from the sale of products, goods or services in uncertain markets. 

Could this development model be of any use in our society? Is the Spanish society aware that entrepreneurship and a participative attitude is needed for developing from the bottom and from the inside? Is our society aware that our crisis provides useful lessons to learn from?  Is our society aware that we cannot afford to fall into the same mistakes of generating a development process from the top and from outside? 

We at FIDE do and wonder why the current policy for entrepreneurship promotion in Spain is not taking into account all the lessons learned that people and NGO have learned through creating and supporting entrepreneurs and using microfinance as a way of funding, participation and development. 

We must remind that starting a venture involves assuming risks, putting ideas into practice, know-how to translate them properly into reality and having the resources (and the ability to manage them properly).

FIDE does that together with our local partners in what we call directional centres or centres for entrepreneurship, where we work to promote entrepreneurial attitude among young people, by encouraging and nurturing ideas and initiatives with market research studies, training people of all ages to make them capable of adequately translate their business plans into initiatives. We carry out technical assessments to help them get the best financing, and we advise and accompany them for at least three years to make their project of life a success and achieve the goals set for their personal development. In that way, we expect to influence Spain’s development by generating work earnings and wealth.

December 12, 2012


Tags: payment instruments, Latin America, Spain | by Álvaro Martín Enríquez
The TECNOCOM Report on Trends in Payment Instruments 2012 was presented yesterday. The Report was commissioned to Afi, Analistas Financieros Internacionales S.A., founding member of remEX.  

Let us start with a few “Highlights of the Tecnocom Report 2012” and an invitation to read the full document here.  



Over the past twelve months, some of the trends flagged in our first Tecnocom Report gained traction, while other new developments emerged. The intensity and scope of the changes being wrought by technological innovation, the effort being made by governments to foster the use of electronic payment instruments, the attempts by sector players to build a new mobile payments ecosystem and ongoing shifts in consumer preferences prompt the need to analyze where the industry is headed in Latin America and Spain. 

One of the issues most commented on by the executives working in the payment instruments industry across Latin America is regional financial development, often underpinned by significant support from the authorities. The launch of basic savings accounts and the switch from cash to electronic instruments for the settlement of government support (G2P) payments are two good examples of how the financial sector is reaching out to the masses. Retailers, meanwhile, have played a key role in extending the use of electronic payment instruments in several countries. At present we are witnessing migration away from private label cards to international payment gateways. 

Executives in the Spanish payments industry stress that despite the profound economic crisis engulfing the country, which is taking a toll on consumer spending and driving a reduction in the number of active cards, payments using electronic instruments continue to rise as the cash substitution phenomenon continues. This gradual shift is logical in a country that is highly banked and in which credit cards are more often seen as a payment instrument than as a financing tool. 

On both sides of the Atlantic, the executives interviewed believe that it will take several more years for NFC technology to take significant hold. However, many see contactless technology as a first step, and one that will be a reality in Spain in the near term and in Latin America in the medium run. Notably, even before NFC takes off, we are witnessing a race by all sorts of players (international payment brands, telecommunications operators, banks, Internet companies) to launch e-wallets. Against this backdrop, it is hardly surprising that the executives interviewed for this report highlighted the importance of newcomers to the market, which include recently-created brands such as China Union Pay, the Chinese market leader, which has also been flexing its muscles in broader Asia of late. 

One of the trends common to all the countries analyzed, particularly Spain and Portugal, is the significant decline in the use of checks, the most expensive non-cash instrument from a processing standpoint. The gradual decline of the check contrasts with the dynamic growth in credit transfers, which have achieved notable prominence. In fact, credit transfers accounted for 77.9% of total payment transactions by value (USD9.38 billion) in Latin America in 2011. This growth has been largely powered by the development of automated clearinghouses (ACH) that process the electronic fund transfer orders placed by the banks or their clients, natural and legal persons alike. Growth in direct debits, however, has lagged; this form of payment barely surpassed USD21 billion in 2011.




Analyzing these payment transaction figures by volume reveals that cards take precedence, being used in more than half of electronic transactions (specifically 59.2% for the six Latin American countries analyzed). This phenomenon is attributable to growth in card usage but also to an increase of cards in circulation, particularly in Brazil.

The most important factors contributing to this surge in Latin America include growth in employment and GDP per capita, a growing culture of finance among lower-income earners, driven by the efforts and campaigns conducted by governments, banks and retailers, and the progress made on financial inclusion. On the latter front, countries such as Brazil, Colombia and Mexico have championed noteworthy and large-scale initiatives to ensure that government transfers to households under various social welfare programs take the form of electronic payments.  

Read more

October 10, 2012

XV FOROMIC: Responsible Finance, Green Finance and Flexible Finance

Tags: foromic, Latin America, microfinance, responsible finance, green finance | by microfinance, Latin America and the Caribbean, FOROMIC, responsible finance

We would like to share with all of remEX members, observers and friends the main conclusions that

Initiative financed by: Initiative financed by AECID
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