The president of the Venezuelan Automotive Chamber (Cavenez), Félix Cáceres, believes that financing for the sector is crucial to maintaining the operation of the service chain, including insurance, spare parts, and workshops. Therefore, he emphasizes the need to expand access to credit.

According to Cáceres, “the recent market stability reflects the significant role that financing offered by dealerships has played, along with a gradual improvement in credit conditions from banks.”

The union leader maintains that the market remains stable and that “financing from dealerships has been key throughout this process, along with the efforts of the banks.”

According to Cáceres, automotive sales increased by 60 % in the first quarter thanks to new payment methods and the “financing plans offered by dealerships, which have allowed them to sustain demand in an environment of limited bank credit.”

On the other hand, Cavenez has reaffirmed his support and guidance to companies considering establishing themselves in the country to facilitate their entry and operation.

M.Pino

Source: finanzasdigital

(Reference image source: Obi on Unsplash)

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The insurance market in Latin America experienced a drop of 11.9 % in premiums in 2020, to 134,361 million dollars, of which 57 % were registered in Non-Life insurance compared to the remaining 43 % in Life insurance, according to a report presented by Mapfre Economics and edited by Mapfre Foundation.

The contraction in the sector was mainly motivated by the evolution of the Life business, as well as by the sharp decline in this business line in Brazil, Mexico, Chile and Colombia, in addition to the impact of the depreciation of their local currencies.

As a consequence, the Latin American insurance market share in the world total fell again in the last year, according to the study, to stand at 2.1 %.

The premiums of the insurance segment experienced a decline of 18.7 % measured in dollars, compared to the growth of 5.1 % registered in 2019, while the premiums of Non-Life insurance had a fall of 6.1 %, compared to the 1.1 % contraction observed in 2019.

These setbacks affected practically all the major markets in the Latin American region, the Chilean market being the one that fell the most (-15.3 %), followed by Ecuador (-5.3 %), Mexico (-3.1 % ), Peru (-2.4 %) and Brazil (-2 %).

However, the region also experienced some positive exceptions, such as the growth of Puerto Rico (+13.7 %) driven by the good performance of health insurance.

The aggregate net result of the insurance market in the region stood at 9,316 million dollars in 2020, which represents a decrease of 30.1 % compared to the previous year.

Source: dpa

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The state financial institutions China Construction Bank (CCB) and Bank of Communications (Bocom), leaders in the banking sector, are increasing their efforts to expand their pilot programs on the Central Bank Digital Currency, CBDC, of ​​China: the digital yuan or e-CNY.

The goal of banking institutions is to enable owners of digital yuan to obtain investment funds and insurance products using the new currency. For which the institutions partner with fund managers and insurers to explore the use of the digital yuan.

According to the South China Morning Post publication, the cooperation will “facilitate the use of the digital yuan for the purchase of mutual funds and insurance products, and the participants hope that this will become another use case for e-CNY beyond low-value daily retail payments.”

Financial activities

The CCB bank recently established an alliance with Shanghai Tiantian Fund Distribution in order to provide clients with the ability to make fund investments online with digital yuan. Zhang Min, Executive Vice President of the bank said: “Since 2017 we have been participating in the research and development of the central bank digital currency, which we consider important to our payment system due to its ability to improve the efficiency of payments.”

While China Construction Bank, until June, had opened “8.4 million digital wallets for individuals and companies”, making a total of “28.5 million yuan digital transactions, for 18.9 billion yuan”, equivalent to 2.9 billion dollars.

On the other hand, China has been carrying out different tests with the digital yuan in sectors such as the Beijing subway, in ATMs. In addition, some provinces are cancelling the wages of workers with the digital currency, which shows that the Asian giant is advancing energetically with its digital currency.

M. Rodríguez

Source: diariobicoin.com

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Up to $ 10 Amazon will pay new customers who want to register their hand through Amazon One, the biometric scanner system that allows you to make purchases very quickly without the need for a payment device.

This system was implemented in stores in the United States and is capable of detecting palm patterns, such as fingerprints or veins, in order to associate them with a previously registered credit card.

The registration procedure is simple. The user only has to register by pairing his credit card with the palm of his hand and thus for the next purchase he will only have to scan the hand and the system will automatically match the data with the credit card for the payment. Customers do not necessarily need to have an Amazon account to use this method.

Currently, the e-commerce giant launched a new promotion that consists of giving away a credit of 10 dollars for all new users with the condition of registering in Amazon One and synchronizing their Amazon account and once the user is matched, the user will be able to see their purchase history from the app or through the web and you will also receive promotions, advertising and offers.

The company, through the support page, guarantees that the information collected is managed anonymously. While the bank details and the data necessary to make payments are stored in an encrypted way in the cloud. The company also allows users to unsubscribe from this payment method at any time, as long as they have no pending payments.

M. Rodríguez

Source: hypertextual.com

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