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Brazil’s economy is resilient, according to Visa President, and it manages to withstand even the ups and downs of politics – 08/30/2021 – Market

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Brazil's economy is resilient, according to Visa President, and it manages to withstand even the ups and downs of politics - 08/30/2021 - Market

Visa Brazilian President Nunu López Alves said the Brazilian economy is able to sustain itself despite the political and financial difficulties the country has faced in recent weeks.

“Brazil has a very strong economy and an increasingly educated population. [financeiramente]… There is still some concentration [de riqueza] in some regions, but it is such an important market that it manages to withstand even the ups and downs associated with the political situation and economic problems. I hope that Brazil will not lose this relevance, ”said the head.

In addition to advances in the financial system – for example, with respect to payments via WhatsApp and open banking – Alves said, digital transformation is another movement that is taking place regardless of the macroeconomic situation.

“It’s unavoidable. For example, there are still many opportunities for people to implement digital services and payments. The modernization is taking place on its own and this is great news, ”he said.

Two months after Alves took over the management of Visa in Brazil, he spoke to sheet the company’s strategies and next steps; and expectations regarding the company’s performance in response to changes in the financial system.

Brazil faced uncertainty about the macroeconomic and political environment. Do you think that such a scenario could affect the confidence of businessmen and consumers in the country?
Overall, I am an optimist. I have been working in the region for many years. Latin America is a region that has always been very unstable, but has always known how to move forward.

Brazil has a very strong economy and an increasingly educated population. [financeiramente]… There is still some concentration [de riqueza] in some regions, but it is such an important market that it manages to withstand even the ups and downs associated with the political situation and economic problems. I hope Brazil does not lose this relevance.

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In addition, there is another movement that takes place regardless of the macroeconomic situation, namely the promotion of digital transformation.

And this is inevitable, especially in the field in which we work. For example, there are still many opportunities for people to implement digital services and payments. The upgrades are happening independently and that’s great news.

Many new consumers have appeared. My crystal ball still doesn’t know what it will be like next year. It may be one way or another, but in any case, there are still many opportunities for technology development and digital transformation.

Many people have closed their businesses or lost their purchasing power during the pandemic. How do you see the country’s recovery?
Curiously, in every crisis, entrepreneurship grows because it is a solution. Many people end up losing their formal jobs and are forced to find a way to support their families.

Then there is an explosive growth of micro and small enterprises. During the pandemic, 40% of established micro and small companies began to accept electronic payments.

And at the end of the day, we are already starting to see that consumers are starting to use this technology as well. Economic activity is migrating to a different configuration, and this is a great opportunity.

Among the various revolutions in the financial system, open banking is the most recent. How does Visa see the emergence of this new system?
Open banking is a very big opportunity, as well as the goal of our business. We are following very closely what is happening not only in Brazil, but also in different places around the world.

We have several players looking at this. For example, at Visa, we have over 100 members from fintech companies and startups.

Open banking is a natural extension of our business. We have been able to provide data transaction between consumers and problems, and especially in this model, which deals with acquirers and commerce, our network is also getting an extension of everything we can contribute.

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And is there a specific open banking solution that Visa is working on?
I cannot open information about these new solutions, but I think that this is a system that will rely on the initiation of payments and information traffic of the account. This is our natural space.

We not only carry out financial transactions, but also carry information. We need to have something to offer for everything related to account data and leading to an ecosystem of partners such as banks. In fact, we have already done this.

We are going to occupy a very important space with everything we offer.

What does Visa do in terms of security?
In 2019, Visa prevented over $ 25 billion. [R$ 130,5 bilhões] about fraud in our systems. This is a very expressive number that gives great importance to the industry.

Obviously, we have an entire technology for approving transactions with networks that can parse hundreds of variables, but we’ve also evolved our own credentials as well. Now the data is being converted to bogus data, and it becomes more and more difficult for a hacker to try to do anything in this way.

There are several levels for prevention, detection and remediation. But this is a constant investment, because security is the main prerequisite of the market. Without this we cannot do anything.

What are the next steps for Visa with your guidance?
We will continue to focus on innovation and the development of cutting-edge technology, bringing all the trappings of innovation and convenience that are part of our offering.

I’m going to build [esse futuro] in addition to a very good base, excellent customer relations and a structured and very competent team. It is now clearly expanding.

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More and more, you will see Visa claim to want to be a network for everyone and work everywhere. For Brazil, we want to continue expanding our value proposition to more consumer and commercial segments so that everyone can benefit from innovation in financial transactions.

We want to empower consumers, commerce, and be more proactive in this battle for relevance and engagement.

What solutions is Visa working on?
We are working on a lot of things, but in most cases you can expect an increase in the estimated payouts.

Looking at the physical world, these transactions account for 15% of all transactions made in Brazil. This number is much lower than the potential in the region where I worked before. [América Latina e Caribe] it was threefold. In Australia, this percentage is 95%.

Of course, this type of solution is much more hygienic, faster and more convenient, but there are other aspects to be explored, such as urban mobility or other sectors such as education and healthcare, in addition to Tap to Phone solutions. [solução de baixo custo da Visa que transforma a geração atual de smartphones ou tablets em um POS [maquininha] are software-based, allowing them to accept payments on the fly without the need for additional hardware].

We also want to embed our reputation in the digital environment. Everyone likes to use the transport app without touching their pocket, and the more digital data with Visa credentials, the better.

Be it insurance reimbursement, payment of wages in different sectors or in a joint economy. There are many ways to use the experience of moving money.

And in the end, every time a business transaction occurs, we can be present in both the physical and the virtual world. “

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Politics

Lula is preparing the announcement of the bloc of ministers on the 13th

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Lula is preparing the announcement of the bloc of ministers on the 13th

President-elect team Louis Ignatius Lula da Silva (PT) is preparing the announcement of the block of ministers on December 13, next week – the day after the diplomat’s PT in the EEC (Higher Electoral Court). In addition to guaranteeing a few more days to resolve deadlocksthe party intends to use the symbols of the “lucky number” on the date when it will announce the new folders.

Lula himself has already admitted that most of the future ministry has already been chosen. in Brasilia, former Minister Fernando Haddad (PT), Senator Simone Tebet (MDB-MS) and former TCU (Tribunal de Contas da União) Minister José muzio they are already treated with the status of ministerial ministers – there is not enough officiality.

I will finish my studies on the 12th [de dezembro]🇧🇷 After graduation, after I am recognized as the President of the Republic, I will start choosing my ministry. No one needs to suffer, be nervous, create expectations, because deep down I already have 80% of the service in my head.”
Lula, at the press conference on Friday (2)

Lula was forced to announce the names of the new government. But it endured. He does not want to give the impression that he bows to any sector, be it political, economic or military.

In 2002, during his first term, he was under similar pressure and announced: December 10Antonio Paloccithen Transition Coordinator from the Ministry of Finance and Marina Silva from Environmental Protection.

Piece by piece. If he delivers on campaign promises at the start of a future government, the Esplanade should have ten more ministries early next year. The total number will increase from 23 to 33, three of which are new.

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The first names given for the declaration are:

  • Haddad on the farmwith the dismemberment of the Ministry of Economy, and
  • Muzio on defense🇧🇷 The statement of the former PTS minister could be the first this year, already this week.

It is likely that these readings will be confirmed prior to release. AT dinner with the senators, last week Lula already confirmed the names Muzio and elected senator Flavio Dino (PSB-MA) in fairnessaccording to Estadão.

Cited. However, on the next 13th, a more reliable list should be announced:

  • Vamet in the new Ministry of Social Development,
  • dino in justice, dismembered from public safety,
  • O Governor of Bahia Rui Costa (PT) in the Civil House,
  • O ex-chancellor Mauro Vieira return to Itamaraty,
  • BUT elected MP Marina Silva (Rede-SP) back to the Ministry of the Environment, and
  • O Deputy Alexander Padilla (PT-SP) upon return of the Ministry of Institutional Relations.

Lula’s team is still negotiating

Without confirming any names yet, the future government still needs to sort out some dead ends – and according to close leaders, everything was ideally resolved before the first big announcement next week.

With the dismemberment of the Ministry of Economy, it would be ideal to announce the name of the Treasury along with the name of Planning. Persian Aridone of the founders of Plano Real, received a higher rating.

Arida went so far as to say she wasn’t going to take over Planning folder, but according to interlocutors of the transitional government, his name was proposed by vice-president-elect Geraldo Alkmin (PSB) and accepted by Lula. The plan was to have a technical profile and a political one, with clear and complementary economic views on finance and planning, but negotiations cooled off. Arida is not ruled out, but not confirmed either. The only thing PT supporters guarantee is that Alcmine will nominate this portfolio.

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How wags make MDB. Vamet it also depends on your party. O MDB is bidding for at least three folders in the new government, but hopes it ends up in Lula’s private office given the senator’s importance in the second round of the campaign.

Emedebists are examining at least one leadership, senator and deputy for appointment to office:

  • Senator-elect Renan Filho (AL), former governor of Alagoas, will lead the Ministry of Mines and Energy.
  • Governor Helder Barballo (Pennsylvania), re-elected with the highest approval rating, will appoint the head of the Department of Regional Development.
  • There will still be room for an MP to be determined by the emedebista bench commanded by President Balea Rossi (MDB-SP).

Lula is in Brazil and his meetings with the transition team and political leaders are divided. Members of the Working Group on Planning, Budget and Management are scheduled to give interviews to the press today.

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Ibovespa falls by 2% under pressure from the political-fiscal scenario

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Ibovespa falls by 2% under pressure from the political-fiscal scenario

On the next game day of the Brazilian national team at the World Cup. Ibovespa o closed down 2.25% to 109,401.41 points, with more than 90% of listed shares ending the trading session with losses. Trading volume was 22.3 billion reais, below the average of 30 billion reais.

Political-Fiscal Scenario with Transitional PEC and the lack of information about the next treasury secretary continue to put pressure on the stock index, in addition to the negative climate in New York, which also pulled Ibovespa down this Monday (5).

In Brasilia, Senate President Rodrigo Pacheco put the transitional PEC on the agenda next Wednesday (7) for discussion in the plenary session of the House of Representatives. Investors are attentive to the results of negotiations on the amount and duration of exemption from spending restrictions.

Senator Marcelo Castro, rapporteur on the budget, said the PEC should maintain the impact of the BRL 175 billion and BRL 23 billion emergency revenues. However, the term should be reduced from four to two years.

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As commodity-oriented stocks were the only ones that closed in blue. Paper and pulp shares of Suzano (SUZB3) and Klabin (KLBN11) rose 2.20% and 2.22%, while steel and mining stocks gained 0.14% and 1% in CSN (CSNA3) and Usiminas (USIM5) shares. .07%.

Ibovespa’s biggest losses were in tech, retail and healthcare – stocks that are under pressure when interest rates and the dollar rise, as they do today. Positivo (POSI3), Qualicorp (QUAL3) and Lojas Renner (LREN3) were hit the hardest with losses of 11.50%, 9.74% and 8.01%.

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O dollar rose overseas (the DXY rose 0.75% to 105.36 points) and domestic negotiations followed. Around here, the US currency rose 1.30% to R$5.2829. With fiscal issues on the radar, interest rates also rose today.

In New York, investors reacted to data from the services and industry sectors, which showed that the US economy remains resilient to the increase in interest rates by the Federal Reserve. The higher-than-expected rise in the ISM Services PMI and Industrial Orders – higher than expected – reinforces expectations for an aggressive Fed stance at next week’s monetary policy meeting.

As a result, Wall Street stocks plummeted. O Dow Jones lost 1.40% to 33,946.51 points, S&P 500 fell by 1.79% to 3998 points, while Nasdaq fell 1.93% to 11,239.94 points.

(Com Reuters)

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The STF assesses the secret budget as “political activity,” Prime Minister Bolsonaro said in the Chamber

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www.brasil247.com - Ricardo Barros

The Deputy Head of Government in the Accounts Chamber said that the Transitional PEC “constitutionalizes” the mechanism, making it unnecessary to discuss it in the STP




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