Cash goes through its last carnivals – 02/22/2023 – Maria Inês Dolci

The announcement of the future digital real, that is, the virtual currency that the BC (Central Bank) intends to launch between 2024 and 2025, could make cash keep company with the check, which has almost disappeared from our lives. It won’t disappear entirely in the next few years, but it will be used much less.

The challenges of the digital payment method are accessibility to all consumers, as happened with Pix, and transaction security.

This process of virtualization of purchases and other day-to-day actions began with the first bookstores, stores and bank branches on the Internet. Gradually, governments also digitized their services, including a very broad platform, gov.br.

Today, for example, it is relatively common to use vehicle documents, driver’s license, CPF and health plan card in smartphone applications.

Pix, instant and electronic money transfer, fell in love with Brazilians. It was launched in 2020. It moved BRL 10.9 trillion in 2022, according to BC. Last December, there were 141.6 million registered users in the country, with 550.8 million registered keys.

In addition to debit and credit cards, Pix has made millions of account holders less frequently withdraw money from self-service terminals, and for lower-value payments. On mobile devices with NFC (Near Field Communication) access, it is possible to pay with credit cards by approaching the device.

Driven by the social distance of the coronavirus pandemic, e-commerce has also grown a lot, incorporating itself into the daily lives of Brazilians. According to a survey by Octadesk, in partnership with Opinion Box, 61% of consumers buy more online than in physical stores.

The future arrival of the virtual currency, therefore, will be another step in the digital transformation of the lives of all of us. This change is also cultural, obviously, which implies adaptation, high technology, as well as broad and transparent information. BC has been testing the security of this new money format to prevent fraud.

The digital economy, therefore, will predominate. One of the main requirements for our security and management of these virtual resources, I emphasize, is information. Research, read and test these solutions before moving on to new ways of doing business.

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