Once again, Mozambique wasn't present, and payments aren't just payments. They're savings!

Afonso Almeida Brandão"

BI know that Portugal has a reputation for being highly advanced when it comes to payments, but one only has to leave this "little corner by the sea" to realize that this reputation is simply a reputation. The market is increasingly global, and the need to create European solutions—including the countries that are part of the CPLP, perhaps the Portuguese-speaking African Countries (PALOPs) and Southern Africa—that are global and uniform, in short, is a constant pressure. However, Portugal does indeed have immense talent, and Portugal must want to be part of the European payments strategy. It's not enough to simply follow the European Union's lead, not to mention the countries that make up Southern Africa, the CPLP, and the Portuguese-speaking African Countries (PALOPs). Payments aren't just payments. They're economics! And they encompass a wide range of sectors, beginning with agriculture and agro-environmental issues, which TERRA Magazine is part of and prioritizes. The same can be said about the Portuguese-speaking African Countries (PALOPs) (of which Mozambique is a part) and the African continent as a whole. However, none of them are (nor were they) present, and they haven't done anything to be represented by their respective strand, all things considered. And this is a factor that surprises us greatly... What is the explanation, Gentlemen of the FRELIMO Government, when it comes to Mozambique, and especially to the areas of Agriculture and Agro-Environmental, in which we are rich and have potential? At the beginning of June, Amsterdam (in the Netherlands) became the epicenter of global financial innovation with the "Money20/20 Europe" conference. In addition to our presence as journalists, multiple discussion sessions took place simultaneously over three days, bringing together more than 8,500 leaders from fintechs, banks, regulators, and technology giants. Despite the immense risks and demands, the payments market continues to show signs of growth and is undoubtedly a sector that values innovation and accelerates the economy. Many brands in the payments industry invested their money in this event, and this time, Portugal showed some vital signs (hallelujah!). The event was attended by the Payment Institution "Eu Pago," as well as ANIPE, which was invited to participate in a roundtable discussion on "Policy Exchange/Crossborder Payments." The National Association of Payment Institutions and Electronic Money was represented by its President, João Câmara, to contribute to the knowledge-sharing process in a heated debate between several European players. For the first time, we saw the presence of an AICEP booth, promoting Portugal as a hub for Fintechs (companies that use technology to develop financial services), thus attracting investment to the country. Could this have been a first step for Portugal (in this specific case!) in wanting to be present, compete, and showcase itself to the world as a potential platform for development in the electronic payments industry? Indeed, talent abounds in Portugal, the CPLP, and perhaps even the PALOPs. TALENT and QUALITY are factors that should be acknowledged. Several countries are investing in this event, competing healthily in this space, and conquering and showcasing the best of each country. Portugal, in terms of how to showcase itself, still has a long way to go, but this presence was undoubtedly a positive sign. This event stood out for its discussion of crucial topics for the future of digital finance, with a strong focus on artificial intelligence, digital identity, financial inclusion, and sustainability. One of the central themes was the rapid evolution of generative artificial intelligence and its impact on the financial sector. We regretted not being able to see any of the CPLP countries (starting with Mozambique) at the event. During several panels, experts discussed how Artificial Intelligence (AI) models are transforming banking operations, from customer service to fraud detection. Companies such as Klarna, Revolut, and Stripe shared concrete use cases of AI for service personalization, compliance automation, and improved credit assessment. Rahul Patil (from tripes) highlighted the growing use of AI in areas such as fraud detection, account opening, and service personalization. David Sandstrom (from Klarna) revealed that the company's AI assistant already manages two-thirds of customer interactions globally, thus simultaneously improving the experience and reducing operational costs. However, the risks associated with the use of this technology were also discussed, namely the need for ethical regulation and the implementation of "responsible AI" principles for the financial sector. The advantages of AI are evident, but the risk of misuse is also a reality fraught with risks that must be mitigated to provide sufficient trust. The evolution of the “user experience” was also one of the topics discussed. In short: PAYMENTS are moving toward a user experience where payments are increasingly expected to be invisible—that is, frictionless transactions, often integrated into broader digital experiences. With the proliferation of connected devices and "super apps," companies like Amazon Pay and Adyen discussed the future of digital wallets, which are moving toward full integration with digital identities and biometric data. The potential of automatic communication protocols between banks and financial institutions and the next steps with the "Payment Service Directive 3" regulation were also on the agenda of the sessions, pointing to new monetization strategies and greater control by banking institutions. And the truth is that Mozambique, nor any other CPLP country, was present, and the event itself passed them by—or rather, Mozambique was "east of" this important event... These days, all financial services are based on the tools offered by new technologies. This is especially true for the account opening process—and for this reason, the debate on sovereign digital identity has returned to the agenda, with a focus on solutions based on blockchain and Web3 technologies. European regulators, together with representatives of the European Commission, discussed the progress of the European Digital Identity Wallet, scheduled for large-scale implementation in 2026. The challenges are immense, and the 2026 deadline seems overly optimistic, but to meet the requirements imposed on financial institutions, the existence of a European Digital and Verified Identity solution will certainly be a highly regarded tool, which not only accelerates compliance processes but also reduces significant costs and brings greater security to everyone. In this context, several startups and scale-ups have presented decentralized solutions that allow users to control their personal data, promoting Privacy, Security and Interoperability in a seemingly increasingly fragmented Financial Landscape. Sustainability also continues to be a hot topic. From measuring the carbon footprint of transactions to Green Financing, several institutions are presenting strategies to align their products with ESG (Environmental, Social, and Governance) criteria. It's not a new topic, but it remains central to the Financial Market. Finally, we highlight a topic that's always on the agenda at Money2020: financial inclusion and gender and ethnic diversity in fintech leadership. The "RiseUp" stage gave a voice to female founders and emerging leaders who challenge the status quo. The importance of creating financial products designed for traditionally excluded populations, from migrants to underbanked communities, was emphasized. This 2025 edition of "Money20/20 Europe" established itself as much more than a networking and technology fair. It also saw major announcements, such as: SoftBank invested $40 million in NomuPay to accelerate payments between Asia and Europe; Deutsche Bank and Mastercard launched a "pay by bank" solution for merchants; and Klarna tested a hybrid debit and BNPL (Buy Now, Pay Later) card in the US in partnership with VISA. But more than that. It became a forum for strategic decisions, where the entire sector meets (and met) and where the boundaries of the next decade of finance are defined. With various sectors evolving at a dizzying pace, the balanced debate between innovation, ethics, and social impact has proven more relevant than ever. Portugal has given subtle signs that it intends to follow the European debate. But that's not enough. This is a rapidly developing market, and its impact on economic acceleration is clear and evident. In recent years, Portugal has been missing opportunities. And the same is happening in the CPLP, PALOP, and Southern Africa. They fail to showcase their strengths, promote their companies, foster their talents, and transpose European directives on time. The regulators of most banks—whether in Portugal, Angola, Mozambique, Cape Verde, Guinea-Bissau, Timor, and even South Africa—are not the most agile in their actions compared to other European banks. And Portugal and the countries we've just listed continue to "not sit at the grown-up table" when defining strategy. And Mozambique, in terms of particularities and presence, was neither "had nor found." Once again... ...Being a leading player in the development of European regulation and innovation in the financial sector, and in payments in particular, is essential for Portugal, the CPLP (Portuguese Communist Party), the PALOP (Portuguese-speaking African Countries) and Southern Africa to keep pace. This is not the case in most of the countries we cite as examples, as payments are not primarily made to African countries, and delays are therefore "out of sight," due to uncontrolled spending on travel, excessive perks, inappropriate gifts, exorbitant salaries, and inexplicable PERKS given to our (mis)governors and most of our "sham" MPs, starting with the Mozambican parties. This includes other unacceptable expenses that are plainly incurred by all those who hold parliamentary seats in their respective parliamentary bodies, in addition to the regular "blows" systematically inflicted on the public treasury of all of them, without exception.

2025/12/3