“We are living in historical moments and the new economy is going to be shaped only by following classic parameters, along with other factors that will have a strong impact in the coming years. With these words, Paloma Real, General Director of Mastercard Spain, opened on Wednesday the Mastercard Innovation Forum 2023 (MIF), an event that this financial-tech company celebrates every year.
These factors that Real mentions have already influenced, more or less, the way we relate to new payment systems and the transformation of businesses.
The most plausible of them all relates to advances in new technologies, “in particular Improves speed of data processing and processing It will immediately affect our daily lives,” the directive said, referring to artificial intelligence, quantum computing or 5G/6G networks.
[La necesidad de adaptarse a una regulación cambiante y la localización marcarán el futuro del sector bancario]
The second of these factors, already in all companies define their strategy, including the way they reach their consumers and sustainability. Citing data collected by MasterCard, Real highlighted this: “80% of Spaniards are concerned about climate change and 66% base their purchasing decisions on brands’ sustainability attributes That’s what they relate to.”
Not only due to the previous two factors, but also due to the impact of events such as “epidemics or the new global geopolitical situation, which is related to the social paradigm shift that is taking place. Rethink our values And seek a better balance between our personal and work lives,” Real said.
The payment revolution
During the Mastercard Innovation Digital Forum 2023, the company analyzed this new environment under the motto. Step into the next economy, according to the General Director in Spain, “a way of calling to action”. To do this, it has such experts Anders Inset, editor Quantum economics, Contagious thinking Y Wild knowledgeHe focused his presentation on the possibilities and challenges of artificial intelligence, specifically what this technology still can’t do, but humans can.
“To create a humanized capitalism, we need to invest in technology that helps solve problems. This will be essential for companies that want to maintain revenue in 10 years,” he said during his speech. “We need to take into account that the climate will be an important part of the economy, so we need to develop products. “There must be a better place in the world.”
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Sustainability also plays a leading role throughout the event, especially in its relationship with the future of payments. Tom Harris, Senior Vice President of Foundry, Mastercard’s division dedicated to innovation was able to visit D+I a few months ago in its headquarters in Dublin (Ireland), explaining the evolution of technologies such as BlockchainArtificial intelligence and quantum computing will shape the future of payment as we know it, maintaining a sustainable perspective for the benefit of the planet.
“Artificial intelligence will be critical to driving and developing personalized and intelligent experiences. We at MasterCard are working And so the experience is increasingly inclusive, interactive, personalized and digital. Today, we find ourselves in an era where consumers are aware of the impact their decisions have on the environment,” said Harris.
In this new environment, work models are changing. Its change was already seen before the pandemic, but after that we can talk about a turning point and how it affects different sectors.
about this, Jennifer Rademacher, Head of the Future of Work Area at Mastercard, “Post-pandemic, there has been a shift in the way we operate in terms of style, optimization and personalization. However, Availability continues to be a key factor for workers when they need to be creative and for companies to develop their corporate identity. Conversely, we were able to verify that teleworking works when workers need more attention.
Spanish flexibility
The event also hosted interventions specifically analyzing the economic situation in Spain. Natalya Lekhmanova is a senior economist at Mastercard EconomicsIt highlights the great resilience of Spaniards after the pandemic, thanks in particular to their savings.
Throughout his presentation, “When comparing the GDP of different European countries, we see that Spain stands out in its growth due to the recovery of the service sector. Consumption is expected to continue its acceleration despite the strong inflation affecting Europe, evidenced by the increased spending on experiences and trips in Spain. .
[Así es el centro tecnológico de Mastercard donde trabajan para medir la huella de carbono de nuestras compras]
Lekmanov also spoke about upcoming spending trends in the country, noting that “in the coming months, especially during Christmas, spending will be maintained and increased as Spaniards are expected to spend more on restaurants and food.”
Natalia Escobedo, director of public affairs at Microsoft; Jean-Francois Cases, Vice President of Amadeus; and Carlos Dejador, Director of General Administration of Telefónica Province, were highlighted in a round table chaired by Daniel Nieto, Vice President of Government Relations, Mastercard Spain.He emphasized the importance of digitization for the development of Spain in various sectors such as tourism.
All three insisted “Right now We are immersed in an era of mutual cooperation between public and private agencies. We need the infrastructure to deploy and use new technology. In this sense, Spain, a leader in the sector, is experiencing a unique moment.
To end the day, Tony Nadal, Sports Technical Director of Rafa Nadal Academy, talked about the essential factors for success in any field. In Nadal’s words, “Improvement is always necessary and possible. If you put commitment and passion into what you do, the normal thing is to make things better and better. We must have the courage to face reality and change it. Ultimately, when you give value to the secondary, you take away from what really matters.
