Apr 21, 2022
In Welcome to the Food Forum
Chile was one of the first countries to Hong Kong Phone Number List implement mandatory electronic invoicing in 2003. Today, over 97% of bills are now filed electronically. A study by Billentis shows that between 2017 and 2024, the use of Hong Kong Phone Number List e-invoicing in Latin America will grow at an annual rate of 32%, with Mexico leading the way in adoption. Fully digital bank To create a more open and transparent system better suited to the mobile first generation in Latin America, several fintech companies are developing fully digital Hong Kong Phone Number List banking options for smartphones. While fully digital banking is still a relatively new concept in Latin America, the benefits of mobile financial services, coupled with the many regulatory changes taking place, are increasing adoption. For example, Nubank in Brazil Hong Kong Phone Number List allows users to apply for and access MasterCard credit cards from their mobile devices. As a fully digital service, Nubank has extremely low operating costs and charges customers nothing. Founded in 2014, Nubank has registered over 8 million applications and raised over $377 Hong Kong Phone Number List million. In Argentina, less than half of the population has a bank account, according to the World Bank. However, more than 40% of the population owns a smartphone, and this Hong Kong Phone Number List is expected to reach 70% by 2020. Uala is a mobile-based banking service that also provides access to a prepaid Mastercard for the unbanked. In July, Mexico City-based Hong Kong Phone Number List bank Ve Por Mas agreed to acquire Bankaool, Mexico's first online banking institution. smart contract In many Latin American countries, trust levels are low, and business is usually only conducted between well-known personalities. It is therefore no surprise that the region has become a major adopter Hong Kong Phone Number List of blockchain-enabled services and markets. Blockchain makes it possible to use so-called "smart contracts" or blockchain-based contracts that execute automatically when specific criteria encoded into the contract are met. Executing contracts over a blockchain Hong Kong Phone Number List network eliminates the need for a middleman to confirm transactions.