The president of the Central Bank, Roberto Campos Neto, said on Tuesday (30), that society requires the union of social networks with means of payment and financial services. The speech happened during a live of the Daycoval bank and refers to the unprecedented use of Pix for exchanging messages. “I call it the gold rush. It’s basically bringing together three major strands: the content strand, the messaging strand and the payments strand,” said the president.
“Society used a payment system as a messenger. This shows that society has this intrinsic demand to mix social media with payments and finances”, explained Campos Neto, although the phenomenon took on a joke tone at the time. During the event, he also revealed that WhatsApp Pay would be approved by the regulatory authority – which happened in the late afternoon of the same day.
The importance of data
In his speech, he made it clear that such a union would be beneficial not only for Brazilians, but for the market as a whole. For him, it will be possible to advertise, sell, receive the value of the product and, through algorithms and artificial intelligence, know what the customer thought of the purchase.
According to the president, this is a flagrant demand that must be analyzed by regulatory agencies. It should be noted that this possibility is subject to the requirements of Law No. 13,709 / 18, better known as the General Data Protection Law (LGPD). Among other comments, Campos Neto stated that there will also be a great segmentation between banks and fintechs.
Actions to fight inflation
The president also touched on a sensitive issue: inflation in the country, which has worried economists and Brazilians. As he pointed out, there is a “temptation” to help the most needy and this has contributed to the inflationary movement, which is under observation by the Central Bank. Despite Campos Neto’s statement, it should be noted that inflation involves a wide variety of factors, such as the devaluation of the real against the dollar.