With the presence of President Luis Lacalle Pou, the Central Bank of Uruguay (BCU) presented its roadmap for 2023-2025. The main objective is to promote an efficient, integrated and accessible payment system that promotes competition in the market. The head of the BCU, Diego Labat, stressed that a new method of immediate transfers is being sought, so that users can make payments automatically.
Also participating in the activity were the Minister of Industry, Omar Paganini; his peer from Economy and Finance, Azucena Arbeleche; the director general of the Office of Planning and Budget (OPP), Isaac Alfie; the director of the Regulatory Unit for Energy and Water Services (Ursec), Mercedes Aramendía; the executive director of the Agency for Electronic Government and the Information and Knowledge Society (Agesic), Hebert Paguas; the vice president of the BCU, Washington Ribeiro, and the manager of the organization’s Payment System, Ana Claudia de los Heros.
Labat considered that the development of the financial system is essential for the growth of the country, so it is necessary to have one that distributes the resources, and that the payment system must be solid, innovative and accessible.
In this sense, he argued that it is necessary to improve this model so that it allows promoting competition, openness and the inclusion of new instruments and agents, as well as the development of new ventures and innovation.
He indicated that the BCU assumes the leadership of working, together with all the agents, in order to introduce new products or technologies that contribute to the innovative development of the National Payment System and, in turn, improve its efficiency and accessibility and maintain the operational continuity.
Labat stated that, with this roadmap, the aim is to establish the rules for the next two years, and that the most important thing for the bank is to promote the operation of the so-called “quick payment system”, which consists of person-to-person transfers. person or person to trade.
“Based on the security and solidity of the National Payment System in Uruguay, the Central Bank assures all users its continuous strengthening, conceiving as fundamental characteristics that it be safe and reliable, efficient, innovative, competitive and accessible, that offers solutions and freedom of choice for individuals and companies,” he said. He also considered that the world is evolving and that the country should focus on this type of system.
Likewise, he said that the difference with the current system is time; the new one allows immediate transfers. Currently, this modality works, but during business days and during banking hours. The goal is that it can be used 24 hours a day, seven days a week.
The hierarch added that this system will compete with credit cards and that it will make it possible, through an application or a QR code, for the person to make payments through transfers.
Presidency
