Why isn’t this the end of cash payments?

Veronica PinazzoCEO of turnCompany whose most famous brand is Rapi PaymentIs a trained psychologist but never in practice.

in conversation with iProUP At his offices in the Boedo neighborhood, the executive explained his vision for how to overcome the current challenges facing the industry and the challenges of attracting talent.

,When I got to know the business world, I realized that I love working with others, solving problems, working as a team. I still love psychology but I don’t see myself in the clinic,” he says.

Their trajectory resembles a precisely determined path. However, it’s a build that got her exactly where she wanted to be.

“I never wanted to be CEO Of those who spend it in events or are a visible face. It’s not my style,” he clarifies.

His most relevant posts include:

• Commercial Director for the Retail and Classifieds Segment in Google
• vice president of Argentine Chamber of Electronic Commerce (CACE)
• chief digital officer of OpenBank Argentina (Santander)

Currently, Pinazzo is in charge of a company Its annual turnover is 20,000 million dollars.

iProUP: How do you see the transformation of digitization?

Victoria Pinazzo: In recent years there has been a behavior changeLike other areas, technology It made it easier to do things differently, but I don’t think this is the end of cash payments.

I’ve had this happen before retailEurope, the United States were already well advanced in the market, but purchases never exceeded 40% of total purchases.

People adopt new methods but still people prefer experience personal purchase, There are things that have to do with the daily environment, and not everything is more efficient.

I do it when I need to get something practical and efficient out there Online, But if not, I love the shopping experience.

In rapipago there are many processes they are not digitalFor example, virtual ones, when you’re inside the world of virtual wallet, It’s all digital. but there are many people who do in cash cash.

In fact, we have as a customer use it And market pay For these tasks because your customers ask for it.

Me: Does it have anything to do with any generational issue?

VP: We have an audience of all ages. And one thing that caught our attention is that although both the millennium like the people of seniors still have a significant relationship with cash,

young people Top up your card with cash, not with bank transfer. For example with gaming consumption. New generations are oriented towards what is best for them, how to generate more wealth, what benefits me.

Now there are many shops which give you cash discount and youth are not willing to pay more. He prefers to receive cash, which ends with a special discount.

Me: How has everything changed after the pandemic?

Vice President: In the first months of the pandemic it was thought that physical existence was over. It was a time of great uncertainty. The first big challenge was

we have charges QR in physical points, When we started emerging from the pandemic, we realized that people have changed their habits, but that does not mean that people do everything the same. digital way. We have more than 10,000 points across the country.

What’s more, after the pandemic, people re-evaluated the capillaries that are present all over the country.

I think there are some structural issues that affect entire ecosystem, Most of our branches are not owned, but they attract people to serve. This is a very challenging topic.

I: What are the main challenges for a company like Gire?

VP: Banknotes of lower denomination. Oddly enough, if we had higher denomination bills, we could make logistics transportation very economically.

You look at it in your wallet, there you have a lot of bills, but very little value. And this is a big challenge for us. Now if you get robbed, what the collection truck leaves behind is much more important than the value of the tickets.

if they release tomorrow a high denomination billWith that, you’ll improve productivity and margins. this is one for us current challenge,

What happens in this public that there are habits. Users have links to places. There are many cases that pay with debit, but there are also some that prefer cash to control expenses better.

Yo: What steps are you currently taking to transform the business?

VP: A few years ago in cash And cash out It didn’t exist, but there are a lot of people who still use cash. that’s why we included it general dynamic, Many people who do not work in a dependency relationship are managed in cash.

when we include in cash And Cash Out did two things: We helped businesses that have high volume, and many people that have ATMs. ATM It’s very good. Also you can load goes up, And it helps us to reduce the cost of transportation.

We have a whole strategy in place to try to turn the collection point into a more comprehensive service point.

Obviously linked more to loans or facilities, where the material point is important but it is not necessarily just to collect,

I: Have you evaluated the possibility of including cryptocurrencies?

Yes, we started evaluating it but in the long term. We started thinking about it last year, but today we work together three banks And today we cannot do operations in crypto. were talking to us purse To see how we can help you.

we started thinking about the future because city ​​government I Was Evaluating Accepting Payments In Crypto, But We Always Think In Flats federal,

Me: How do you work to acquire talent in tech?

Vice President: We have partnered with a school to plan first jobwhich is desperately needed.

we all like we have a hard time creating jobsSo we had to get creative to achieve this.

For junior positions we did a pilot test with a secondary school and mind houseA technical one, and we built a professional practice that serves the school and we train a bunch of kids to code and work in the company.

Our challenge was that they could accomplish that and if they achieved that in practice, then the following year we give them a choice whether they want to work with us. And they all came.

Good thing the first ones in the second litter were mentors, It was a beautiful experience.