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What are the most suitable means of payment for each operation?

Zoop’s 2022 Trend Report revealed that 80% of shoppers abandoned a purchase when they couldn’t find their desired payment method.

After Black Friday, retailers are already starting to prepare for the Christmas season. The National Confederation of Commerce in Goods, Services and Tourism (CNC) has forecast sales growth of 2.1% for this period in 2022, significant growth considering that the sector has experienced a decline in consumption over the past year .

According to Patrícia Esteve, CCO of fintech Zoop, for retailers to exploit the market opportunity, it is important that consumers have access to the means of payment they prefer, providing a smooth, secure and satisfying purchase path.

“That way, preparing the business to receive the high financial volume that will be transacted and having a good payment platform makes all the difference,” he says. Before choosing among the various payment solution options available, a few points should be considered which will indicate the best alternative for each business.

Firstly, it is essential to keep in mind the size of the business, its sales flow and align the type of instrument with the volume of transactions, to avoid problems at the checkout. Zoop’s 2022 Trend Report revealed that 80% of shoppers abandoned a purchase when they couldn’t find their desired payment method.

In this way, the next step is to know the main differences between the means of payment and decide which is the most interesting solution for your business model and customer profile.

Data from the Brazilian Association of Credit Card and Services Companies (Abecs) indicates that 9 billion transactions were made by card in the first quarter of 2022 (Image: Playback/Andrea Piacquadio/Pexels)

The most suitable means of payment for each sale

Find out below the main payment methods available on the market and their particularities;

Stud Relief: It is an electronic device that reads cards, whether they are credit, debit or meal vouchers. Visually, the Pin Pad can be confused with a card machine, but they are different. Both devices read cards, however the Pin Pad needs to be connected to a till to work and guarantee communication with the acquirers or subacquirers used by the company.

According to Esteve, the peculiarities of the device are that payment transactions are carried out via Electronic Funds Transfer (EFT), as well as allowing integration with ERP systems – business management software, facilitating financial management.

Smart POS: IS card machine smartphone that uses Android technology. One of the biggest advantages of this equipment is its autonomy, since its use does not depend on being connected to a mobile phone, tablet or other mobile device.

For Zoop’s CCO, the differentiator of this machine is its smart technology that allows you to download various applications related to the company, such as one that recharges a mobile phone. “This is a great way to add an extra service to the project, without deviating from the main activityand with that, generate a new source of revenue,” he says.

QR Codes: With the aim of helping and simplifying the buying and selling process in everyday life, the QR Codes it consists of a two-dimensional barcode that is easily captured and read by most smartphones.

Photo: And the main form of payment in small and micro enterprises, mainly by facilitating the transaction process via smartphone quickly and securely. Pix also has tools like the Pix collection, which lets you take payments with future dates.

Digital Wallets: The digital wallet is part of the present and future of retail payment methods. By this means, customers can make electronic transactions through the application by storing their bank details in a secure environment. With the use of credit or balance, you can make purchases securely, both online and in a physical environment.

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Source: Terra

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