PIX: The future of global payments – a digital transformation led by PIX
In the current global payments landscape, a revolution is underway. This transformation is largely led by the instant payments known as PIX in Brazil. In the episode of AmplificaCast, Orli Machado, global founder and CEO of the company that implemented PIX, shares his vision on the future of global payments, his career trajectory and the challenges faced in the financial sector. This article explores in detail the points discussed during the conversation and looks at how instant payments are shaping the future of financial transactions around the world.
The evolution of PIX: a milestone in instant payments
PIX, although it was officially launched a few years ago, began its conception in 2017. Orli Machado highlights that the implementation of PIX required a significant specification effort and collaboration with the Central Bank of Brazil. “People think that PIX was born now, but it started back in 2017,” explains Orli, highlighting the complexity involved in ensuring that the system works perfectly. The development of PIX was not only a technological advance, but also a structural transformation that changed the way financial transactions are carried out in Brazil.
O PIX is a clear example of a global movement towards instant payments. “Globally, each geography is adopting its own instant payments system,” comments Orli. In the United States, the equivalent of PIX is called fednow, while in Europe it is known as Tips. Orli believes that, by 2030, most economies will be interconnected through these systems, allowing for instant and simplified transactions between countries.
Orli Machado's journey in the financial sector
Orli Machado shares that her journey in the financial sector started in an unusual way. “Cigarettes saved my life,” he jokes, referring to the fact that his smoking habit took him away from sports and led him to become interested in technology. Working as an assistant in a pharmaceutical company, he took advantage of the opportunity to take programming courses offered by the company. At just 19 years old, he was already a development manager and soon stood out in the market. This career change into technology opened doors for Orli and put him on the path to becoming a leader in the financial industry.
“I participated in all banking automation projects in Brazil,” comments Orli, referring to the period he worked at IBM during the market reserve, when the import of IT products was restricted. He participated in the development of the first ATMs and cash and checkbook dispensing machines. This experience was fundamental to Orli's career, as it allowed him to acquire knowledge and expertise in innovative banking and financial technologies.
Orli also talks about her experience at Sterling Software, a division of IBM, where he managed projects for the top 100 global financial institutions. “There came a time when I had to decide between moving to London or staying in Brazil,” he says, explaining that he chose to stay in the country and take advantage of the growth opportunities in the local market. This decision was crucial for Orli, as he was able to continue contributing to the development of the Brazilian financial sector while at the same time expanding his global influence.
The decision to undertake and the creation of CM Software
the decision of To undertake emerged after his departure from IBM. “I started CM Software,” says Orli, explaining that he took advantage of his accumulated experience to create innovative solutions for the financial sector. The company quickly gained customers and established itself as a market leader. CM Software was fundamental in the implementation of PIX and continues to play a crucial role in the development of financial technologies in Brazil and around the world.
Orli highlights the importance of preparation and long-term vision. “You need to identify where you want to sit tomorrow,” he advises, emphasizing the need to plan your career and develop management and leadership skills. He also highlights the importance of being aware of market changes and customer needs. “I do what I like, so it's not difficult for me,” he comments, highlighting the importance of finding pleasure in work.
Orli Machado's work routine
Talking about your work routine, Orli reveals that she starts her day at 5 am and works an average of 14 hours a day. “I do what I like, so it's not difficult for me,” he comments, highlighting the importance of finding pleasure in work. It also emphasizes the need to maintain a healthy balance between professional and personal life. Orli exercises regularly and tries to maintain a routine that allows her to be productive and healthy.
The challenges of the financial sector
Orli also discusses the complexity of operating in the financial sector, which is highly regulated and requires compliance with various rules and regulations. “Working in the financial market means dealing with everything bad and everything good,” he says, explaining that competition is less due to the technical barrier, but the demands are high. The ability to navigate these regulations while innovating is one of the key challenges faced by companies in the financial sector.
Future innovations in global payments
In terms of future innovations, Orli predicts that it will soon be possible to make international purchases using PIX, eliminating the need for credit cards and facilitating global transactions. “I believe that by the end of the year we will have these cases on the air,” he says. This innovation has the potential to significantly simplify international transactions, making them faster and more accessible.
Orli shares her vision on internationalization of companies. He highlights the importance of understanding the target market, building relationships with key players and adapting to cultural differences. “If you are an author and add value, go for it,” he encourages, emphasizing the potential for growth in the global market. Internationalizing a company requires not only technical knowledge, but also a deep understanding of the cultural and regulatory dynamics of each market.
The importance of leadership and personal development
Orli also emphasizes the importance of leadership and personal development. “You need to develop management and leadership skills,” he says, explaining that being a good technician is not enough to reach leadership positions. He advises professionals to identify where they want to be in the future and work to develop the skills needed to achieve those goals. “You need to plan your career and prepare for the opportunities that arise,” he says.
The impact of PIX on people's lives
The impact of PIX in people's lives is significant. “PIX revolutionized the way we carry out financial transactions,” explains Orli. With PIX, transactions can be carried out instantly, at any time of the day, eliminating the need to wait for specific times to make transfers. This not only makes life easier for consumers, but also opens up new opportunities for businesses, allowing them to offer more efficient and convenient services.
Orli also highlights that PIX has the potential to promote financial inclusion. “PIX allows people without a bank account or with limited access to financial services to carry out transactions easily and quickly,” he says. This is particularly important in developing countries, where many people still do not have access to traditional banking services. PIX can help bring these people into the formal financial system, offering them a safe and efficient way to carry out transactions.
The long-term vision for PIX and global payments
Orli believes that the future of global payments will be increasingly interconnected and instantaneous. “By 2030, most economies will be interconnected through instant payments systems,” he says. This will allow people to transact internationally as easily as they do local transactions. “You can start a transaction in Brazil using PIX and finish it in the United States with FedNow,” explains Orli.
This global interconnection will not only facilitate international trade and business but also promote financial inclusion on a global scale. “Instant payments systems have the potential to connect economies and promote financial inclusion around the world,” says Orli. He believes that as more countries adopt these systems, we will see a reduction in financial barriers and greater ease in international transactions.
Conclusion: The Future of Global Payments
The transformation of global payments is in full swing, led by innovations like PIX. Orli Machado, with its vast experience and strategic vision, is at the forefront of this revolution. The implementation of PIX in Brazil is just the beginning of a larger change that promises to interconnect economies and facilitate transactions around the world. With a clear vision and a commitment to innovation, Orli continues to lead and influence the future of global payments.
As we move towards a future where instant payments are the norm, the importance of systems like PIX becomes increasingly evident. The ability to transact quickly, securely and efficiently has the potential to transform economies, promote financial inclusion and facilitate international trade. With leaders like Orli Machado leading the way, the future of global payments looks bright and promising.
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