Andorra Digital and Mastercard bring together banking and retail sector leaders to work on integrating new payment systems

Various lines of collaboration were discussed, with a focus on boosting e-commerce in the country.

Andorra Digital, in collaboration with Mastercard, organized a working session this morning with around thirty leaders and professionals from the public, banking, and commercial sectors. The purpose was to analyze the integration of new payment systems in the country that represent innovation and cost and time savings for the end user.

The objective of the meeting was to share and jointly assess the state of value-added payment systems, with a focus on their practical application and potential development in Andorra. The implementation of such systems would benefit the public sector, businesses, citizens, and tourists or visitors alike.

Participants in the session included the Secretary of State for Digital Transformation and Telecommunications, Marc Rossell; the Secretary of State for Financial Affairs, Lorena Jordana; the Director of Andorra Digital, David Vicente; and the Head of the Data Intelligence Agency (AID), David Peralta. Also present were representatives from the Andorran Financial Authority (AFA), the Andorran Banking Association (ABA), various banking institutions in the country, Andorra Business, the Chamber of Commerce, the Andorran Business Confederation, and the Andorran Family Business Association.

During the meeting with Mastercard, the features of the cross-border payment system were detailed, encompassing both domestic and international transactions. The technical operation of this type of system, its advantages, and how it can be integrated into the local environment were explained. The proposed service model, applicable pricing, required licensing regime, and its legal validity within the country's legal framework were also discussed.

The implementation of a new integrated payment system will, for example, reduce the time and costs associated with making international transfers.

In this regard, emphasis was also placed on the advantages these technical solutions can offer to end users and institutions, particularly the added value they bring through their ability to adapt flexibly to the specific needs of the territory and the involved stakeholders.

Besides the integration of the payment system, another aspect presented was the Pay&Collect solution—a system designed to facilitate and optimize both payment and collection processes. This proposal is particularly relevant to the public sector, as it can significantly contribute to modernizing electronic government services.

This solution also impacts e-commerce and the competitiveness of the banking sector by enabling the establishment of efficient and secure payment gateways.

Moreover, it will allow for the development of empathy maps and tracking of the customer journey of tourists, thus providing more detailed insights into their spending patterns in the country. This, in turn, will help shape tourism policies that are more aligned with actual visitor behavior.

Organizing these working sessions with international technology partners helps foster knowledge exchange and promote a shared vision that contributes to the digitalization of processes—specifically in this case, facilitating the implementation of advanced, accessible, and locally adapted payment systems in Andorra.