Prosegur: in the currency business, creating and diversifying comes with digitization

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Plastic, metal, paper or digital, money is money, rain or shine. Brazil has R$343.2 billion in circulation. Arithmetic allocates R$1,625 to each citizen. Society is not. But highly specialized companies are in charge of distributing their share to each one.

Leader does not transport securities, or Group Prosegur goes beyond the circulating medium – technical synonym for money in circulation – and has been diversifying its business, which also felt the massive digitization of financial transactions in this year and a half of pandemic.

Of Spanish origin, Prosegur is present in 26 countries that will receive investments of 94 million euros, equivalent to R$ 566 million, by 2023 for a global program of digital transformation. Brazil will receive an undisclosed part of these resources to accelerate the diversification of products and businesses.

“The company has moved towards retail, investing in technological tools for the financial management of small and medium-sized companies, and in banking correspondence projects”, informs Alessandro Abrahão, general director of Prosegur Cash, the Group’s cash transport arm in Brazil.

Prosegur Cash owns 50% of this market with more than 6,000 customers, from bakeries to the largest retail banks, Casa da Moeda and Central Bank.

In an interview with EXAME IN, Abrahão reports that the Brazilian operation ended 2020 with net sales of BRL 2.155 billion, projects BRL 2.220 billion for 2021 and plans to reach BRL 2.5 billion in 2023. The Group pursues three-year goals. In Brazil it has 112 branches, 106 of which have treasury for receiving and handling cash and custody. And it has more than 13 thousand employees.

The general director of Prosegur recognizes the inevitable digitization, but is adamant that the money in kind will not end. No matter how hard you try to sell this idea, the money in paper or currency will not run out. “Circulation tends to decrease with greater use of technology, but São Paulo and Rio, for example, are not Brazil. Not even the outskirts of big cities are like the capitals and the pandemic also showed that. There is no ‘wifi’ for everyone and plastic or digital money is still costly for people. Recent research of the Locomotive Institute shows that Brazilians prefer to pay in cash because it is cheaper.”

CataCurrency facilitates change

Attentive to the population that does not live in urban centers, the preference for money in more distant places, the process of closing bank branches and digitalization, in 2018 the Spanish group saw in the banking correspondence service the opportunity to invest in a new business and bought LogMais from Banco do Brasil.

“We already carry out more than 38 million transactions a year, a movement in excess of R$1 billion a month. We are located in 1,483 Brazilian municipalities and we have 2,850 (under-established) establishments and stores that help us carry out this banking correspondence work. And we see enormous growth potential”, points out the executive, who started working at the company as a trainee 26 years ago.

In recent years, Prosegur has launched several services using technological tools. Among them, the Smart Safe, O Cash Today, O CataMoeda and solutions for the transport of special cargo. “At the Group, Brazil is a pioneer in banking correspondence, smart safes, special cargo and the first to use the GTV Electronic – Securities Transport Guide. O make up (National Council for Finance Policy) approved the rule at the end of 2020 and we are eliminating all paper involved in the operations. We save trees and it’s safer”, jokes Abrahão.

The Smart Safe allows commercial establishments, especially small and medium-sized ones, to use a digital money counter attached to safes that follow high security standards to deposit day-to-day resources. Cash Today works as a credit even before the funds transported by Prosegur Cash are deposited at the retailers’ bank domicile.

CataMoeda was a find even for the Central Bank. The device, similar to the ATMs also stocked and managed by Prosegur Cash, allows the merchant (and his customers) to deposit the coins and exchange them for ‘vouchers’ or services, such as voucher purchases as bonuses, receive the value in banknotes, buy credits for cell phones or games, or help charities. CataMoeda illustrated a BC advertising piece to encourage the population to put into circulation coins stored at home.

The transport of special cargo – carried out in more than 50 super trucks built by Mercedes Benz and also featured in the automaker’s advertising – came to especially solve problems faced by large electronics retailers and the pharmaceutical industry.

“By launching this pioneering service in the Group, in practice a protection against Cargo theft on major Brazilian roads, we are responsible for services intrinsic to our activity of transporting valuables, such as insurance and escorts”, reports the general director of Prosegur, who, between relieved and proud, recalls a single accident that occurred in the transport of a load. Special. An accident that damaged the super truck. Not the load.

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