Brett loper explains that in the genes of American express is he change and the adaptation constant at each epoch. Throughout its 170 years of life, “we have had to innovate many times and move fast to continue going forward". Add that the key to your success is to focus on those technologies that really help to get better the life of “our customers" “Currently, there are many new words and solutions, such as artificial intelligence, ‘‘ Open banking ’’, ‘‘ blockchain ’’ … but the real value of each of them will be revealed when they certainly solve the problems those who face merchants Y consumers".
– What does Spain represent for American Express?
– Is a market key for us in which we have been present since 1920. Its implementation was “in crescendo” from the Tourist boom. In 1951 we opened our first office in Madrid and last year we celebrated the 40th anniversary of the issuance of the first card in that country. Since then, we have continued the expansion of our operations In addition, we have a center for excellence commercial that serves 29 countries and that naturally generates income and value beyond one's own market Spanish. This country is also the headquarters of Accertify, a subsidiary company specialized in control of online transactional fraud. It's based on intelligence artificial and is managed by the group, with an operational hub in Madrid and provides services to Europe and other countries. Obviously, these actions have been an important impulse to the company in Spain.
– What effects is Brexit having on your company?
– Following the decision of the Kingdom United leaving the EU, Spain has acquired more importance since it has become the campus legal of Europe continental both in the issue and acquisition business. The decision to use our entities in Spain, as part of our contingency plan before the Brexit, was the result of a detailed analysis process. It was based on the operating environment favorable, the existence of licenses in Spain, the presence of talent multilingual and its ability to attract more. We are very satisfied of the decision. The process has been complex, but the Spanish authorities have helped us a lot to follow the necessary steps, understand them and be able to execute them clearly, directly and quickly. Spain is proving that it is a magnificent country to manage a deal international.
– Will they increase the workforce?
– It has already grown significantly in the last 20 months and will continue to do so in the medium and long term. Currently, we have more than 600 employees in Spain. We have expanded our local team as more were assumed responsibilities. We have reinforced the areas of Human Resources, Legal, Financial, Risk Control, Compliance, etc.
– What do you think of the payment legislation in Europe?
– It has meant more shaking dramatic who has experienced the industry in recent years. Some of his objectives they have got, such as the decrease in trade costs linked to the acceptance of electronic transactions, or the stimulation of innovation thanks to “open banking”. However, not everything has been positive. The limitations and controls adopted have failed in its objective of favoring and increasing competition and of increasing the choice available to the consumer, for whom the lowering of the fees applied to the payment with card It has meant a transfer of this cost for him, in most cases. Although now the user has available new services, the reality is that it is more hard They never increase market share and measure themselves with dominant competitors. I think that to unlock the competitive potential in Europe, more must be done in the EU and improve the legislation.
– Are they fully adapted to the PSD2?
– Yes. We're throwing new services based on PSD2, including some open banking solutions already ready. Other aspects, such as those related to authentication reinforced, they are assuming a challenge for the sector, but American Express is prepared for these changes and for opportunities Let them introduce themselves.
– In your opinion, are you missing or have something left over?
– More needs to be done so that consumers, merchants Y Business Have a real chance to choose. American Express it is and has always been an option, and we had to prove the value added added. Too often, the EU has opted for “the same regulation for all ”, applying measures aimed at resolving problems of the entities dominant To all the other actors. This has sometimes led to consequences. negative, as the obligation imposed on American Express leaving 16 European markets for legal imperative with the model of licenses used so far. Among these countries are Portugal, Greece, Malta or Cyprus. This measure has further limited the capacity of choice and has reinforced the position prevailing of others, allowing them to even increase their prices. This type of consequences unexpected are difficult to predict, but it is essential to solve its unwanted effects. We hope that the next European legislative review will focus on allow plus alternatives.
– Why in Europe do people distrust digital payment methods more than in America or Asia?
– The European It is neither more nor less digital than other societies, but there is a clear preference between the consumers for him debit more than for him creditpartly due to reasons cultural.
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