president central bankRoberto Campos Neto, 12, said Friday that he believes credit cards will soon cease to exist.
“At some point you will take your cell phone and you will have an integrator. No one will have five banking apps, we have open financing for that. The integrator will assemble your entire virtual and physical financial life in the same place, making Pix debit and credit, with rates for each bank. And others. Among the services related to this, with physical and digital money wallets,” he predicted, in a lecture on “Regulating cryptocurrencies in Brazil and in the world,” promoted by the Figueiredo & Velloso Advogados Associados office.
Campos Neto once again mentioned the possibility of offline digital payments. “I still don’t understand why they didn’t. It’s like a digital money wallet inside a cell phone, with a little money, because it would be more risky. Some companies are already designing this,” he commented.
Open Finance by WhatsApp
Banco do Brasil (BB) will start allowing its customers to join Open Finance via WhatsApp from Monday (8), which is unprecedented in the world, which already includes advanced countries in the “open financial system”, such as the United Kingdom United Kingdom and Australia, In addition to the European Union. With the tool’s launch today, customers will be able to go through the entire journey of agreeing to share data from other accounts with BB through the messaging app.
According to the bank, the customer will be able to enter terms like “open finance” on WhatsApp and the entire process will take place without human interaction. Sharing customer data, done with consent, is a pillar of the Open Finance process, as it allows banks and other participants to gain more details of a customer’s ‘financial life’, enabling more personalized product and service offerings.
The head of BB, Fausto Ribeiro, highlights “Providing approval on WhatsApp is a way to provide more convenience to customers in a channel that is increasingly being used on a daily basis to carry out various transactions.”
With information from Estadão Conteúdo (Eduardo Rodrigues and Thais Barcellos).
Photo: shutterstock
Charlotte Whitmore is a contributor at Mediarunsearch.co.uk, covering a broad range of topics including news, politics, business, technology, sport, entertainment, and lifestyle. She focuses on delivering clear, balanced reporting and practical information that helps readers stay informed about current events and emerging developments. Her work highlights stories that matter to everyday audiences, with an emphasis on accuracy, relevance, and accessible journalism that keeps readers connected to the issues shaping the UK and beyond.