We interviewed Rodrigo Vilarino, Country Manager of Worldpay for Spain and Portugal, which we already messed with in the . This time we open the focus a little to travel longer and further.
At the interview payment solutions come from Argentina, from , from Mexico, from Holland, Italy, from , from Germany… we jump to Asia, especially China and we even delve into Africa, which is usually the great forgotten. A very useful content for those who are thinking of selling beyond their borders.
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Interview Rodrigo Vilariño (Worldpay)
4:36 How did you end up with the means of payment?
I come from Uruguay and I have Galician parents, I always had a connection with Spain. At the end of 2014 I decided to start a business in San Paolo and start my career in payment methods, I spent 3 years working with payment providers, banks and textile sales.
I have been in this industry for 7 years, payment methods are a cultural way of representing each country. Now I live in Barcelona and it is the 10th city in the world where I live, the payment methods are reflected
9:30 Tell us more about Worldpay.
It is one of the most experienced payment providers in the market. It started 50 years ago, being born in England and going through several acquisitions, making it grow. Today it is the provider with the largest international volume and with the largest domestic presence with more than 60 markets and present in more than 125 countries in the world, accepting any currency and attracting those benefits to where you have your activity.
A 360 provider, both focused on the online and the physical part, with an omnichannel between both. In Worldpay we are about 10 thousand people, now we have merged with the FIS group, we will be around 60 thousand workers around the world.
15:00 How does the payment method affect when you decide to internationalize?
It has a lot to do with the culture of each country, how you like to pay and how you like to buy. It also depends on the regulations to consider, what types of policies you need to know about in order to work in certain places, what you can be charged, and how much the client can be charged. For example in Latam, in the countries like Argentina. who buys in foreign currency. your bank may charge you a 30% taxare things to understand that impact the final conversion of your sale.
It is important to be able to customize for each specific URL for each country. Payment is the most important and must be perfect.
18:10 Would it be enough to add payment by PayPal and card to internationalize?
Depends. Another important thing you should take into account is the type of product you offer and what type of service you offer. In the case of Argentina, we have payment methods likeor cash voucher, it is used in many countries such as Brazil that use the bank ticket or Mexico with OXXOthey are tickets that are printed when the purchase is made and then you go to the physical store to pay for it, because they are countries that still handle a lot of cash.
If your consumer segment uses this form of payment, putting only the cards you fall short or only the currency. You have to take into account the payment variations that each society has, it has nothing to do with how they are paid in Spain to how they are paid in Latin America.
Another great pull, over 30% of the population has cards activated for international purchases. They are cards that are blocked when they buy in other countries and are not unlocked for fear of being stolen. You have to consider these factors and how they manage it in each country.
When a market interests us, the best way is to become local, to make the transactions that are made there.
27:13 Can you tell us more about the other payment methods?
With OXXOpay you print the purchase code to pay it in a physical place or through your bank account, sending a transfer. If you are selling something instant like an online video game, and they pay you with a method like OXXO, when you make the transaction you are already dead in the video game. Once you make the payment, the automatic confirmation is executed in the systems.
In Brazil there are open banking products, being able to send money from one account to another. Where payments are faster. Now they have a new service created by the central bank that is already used by half the population. Replaces transfers and cash vouchers. It is called Pix and must be taken into account to sell in Brazil. It gives the possibility of using it with a digital wallet. Something similar to what .
In Holland they have another similar payment method called iDEAL, it is linked to a bank account but allows us to make an immediate transfer so that it arrives more quickly. Digital businesses are getting faster and payment methods have to grow at that rate to meet customer demand.
Germany It is a country that uses a lot of cash for privacy issues and also has a return culture. Although now cash is beginning to fall into disuse, increasing digital wallets like Google pay, especially after the pandemic, loaded with cards.
They are changing the trends of payment methods, in a year has changed a lot and new methods have been created. You have to be up to date and know all the trends.
46:17 If you add the most basic payment methods to your website, they unintentionally add up to more than 7
It is important that you contextualize the geolocation of your website. People who are not digitally active, if you put all the payment methods that exist on the same website, they have no idea what half is and you can create distractions in your purchase.
You have to have a fair mix of payment methods, have information on what will happen with each method and provide the convenience that tokenization provides, that allow you to pay with a single click, you can do it on your website and also save the card data and eliminate most of the friction.
50:56 How is the payment in Asia?
It is very present. It greatly impacts digital wallets They take 60% of the total transactions. There are countries like Japan or South Korea where cards are a priority. The great driver of this is China, where more ecommerce transactions are made.
Ali is another popular wallet there, they are mandatory methods to transact in that market. You have to have them, the Chinese consumer uses it for everything. Some salaries even receive money out there. It is a highly developed market that has made a lot of noise in the world with the issue of wallets, in fact it is believed that soon they will unseat the cards.
58:35 And in Africa?
We have low bank penetration, depending on the countries. In Africa we work in the region as a whole, we call it the Middle East and Africa, we have an office in Dubai and we hope to have one in South Africa soon.. We see that the major markets of the Middle East, which are very powerful, Saudi Arabia, there is a lot of market to work with, and potential emerging markets such as Nigeria and South Africa, which have a more traditional economy and reflect that they have a more Western culture for payments, with bank cards.
Although you are beginning to see interesting payment methods such as SMS with your telephone operator. As there is not much internet access in more rural areas, this method is the most effective.either. Phones become a financial institution so to speak.
1:02:30 In such a competitive environment with payment methods, what sets you apart from the rest?
Service is one of our great differentials, the ability we have to set up specific teams that work for knowledge in regions and verticals, since there are many different ones. In our team in Spain we have people who work in the retail market, travel, technology, telecommunications…etc. Each one has its dynamics and you have to know how they work.
We will choose the best payment mix for your business and understand how to manage them. We work closely with clients to choose the best transaction strategy and have a consultative nature on how to handle each payment product. Our service is what sets us apart.
Alsowe have the latest payment technologies to guarantee in time that your business does not fall in the next We can support high transaction volumes and stay ahead of all new technologies.
And we can do local anywhere in the world reaching the best reach. We give you the facility to grow in the markets where you want to be. These are our important points.
1:07:00 Where can we find the report that you make every year of payments?
The of Worldpay you can find it on our websiteThe next one will be out in January. As well as you can also find for download the study with the changes that we talked about before.
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