Increase sales with different forms of payment

Offering various forms of payment in the business, whether physical or online, can be the key for more people to make the purchase and even helps increase the average ticket, especially in seasons like The good endwhen people seek discounts and monthly payments without interest.

In this season of discounts, purchases in small and medium-sized companies (SMEs) may be limited by the money that the customer has available in the wallet, since 55% of businesses do not accept card payments, according to the 2021 National Business Financing Survey.

For this reason it is important that SMEs accept different payment methodsbecause they will be able to increase their sales by 30%, increase the average ticket by between 25 and 35% and provide a better shopping experience, highlighted Enrique Horcasitas, Mercado Pago’s director of SMEs.

“The more tools you have to collect, the higher percentages of customers you will capture and therefore your sales will increase,” Horcasitas said.

What tools to implement?

A few years ago, having technology to accept digital payments was a plus, but now it is a priority and represents a competitive advantage.

While there are various payment tools that SMEs can use, selecting the best one depends on the type of business and the needs of consumers. Among the most used are: payment links, point of sale terminals, transfers, QR code and aggregators for e-commerce.

Point of sale terminals are the most used, largely thanks to fintech, as they have facilitated their use and the elements to collect. For example, now a terminal can be the cell phone itself.

Transfers and payment links have also gained strength in recent years, especially in social networks and new online businesses, because through a link people can access the product catalog and issue their payment remotely.

Beatriz Amaro, leader of the Marketing area at Conekta, highlighted that it is only necessary to register an account, fill in information and a payment link is automatically generated with a specific amount and expiration date, to pay by card or cash. One of the advantages is that it can be sent by WhatsApp or social networks.

This type of payment, like transfers, is adequate to continue accepting cash, which last year was preferred by 70% of consumers during El Buen Fin, due to the fact that people are still afraid of entering personal and bank details. in the Web page.

Likewise, Amaro explained that there are also tools that allow you to generate a reference to pay in convenience stores. Once the payment is made, a receipt is automatically sent to the business and the order is released.

“When a business only accepts cards and puts in cash, sales grow 62%, because it allows anyone to consume the products online.”

The QR code It has also increased, since it is practical for the client not to have the wallet at hand and from the phone to scan a code and direct the payment to any of the forms that have been registered in CoDi. “It does not mean that you have to pay with the money from the account (debit), it may be by credit card,” Horcasitas said.

Conekta data indicates that during The good end of 2021, 23% transactions were made with credit or debit cards and 7% with bank transfers.

The important thing is that companies become omnichannel and allow the user to buy both in the physical store and online, as well as access offers such as months without interest or discounts, since many of the payment alternatives offer price reductions when using a of these forms of payment.

“Months without interest in El Buen Fin is a win, because it is what people are looking for the most. Although they are looking for a discount, paying by month gives a greater opportunity to buy,” Amaro concluded.

elizabeth.meza@eleconomista.mx