Now is one of the most anticipated times for travelers. Are you ready to put your business at the same level of action? When planning trips is when we notice everything we need and invariably we must buy. It is when users, regardless of whether it is a sale season or not, go to stores interested in genuine purchases. Does your business only accept cash? Unfortunately you could stay out of the play.
While it is true that the use of cash is the king of the methods to pay in Mexico, according to Banxico, (95% of the population is accustomed to using it to cover their personal expenses such as transportation, food and pantry, while 8% prefer card debit card, 4% credit card and a similar percentage uses pantry vouchers), the spectrum of means to make transactions has already changed, to include digital modalities driven by fintech (Financial Technologies). I explain the main ones.
As a buyer, the method that stores accept can avoid or attract a purchase. If you do not bring cash or the electronic terminal fails, you should know that there are alternative means of collection.
Hiring an electronic terminal is a difficult decision. If you do not cover the minimum billing is another expense that contributes little to your business and reduces your income. With this in mind, different payment methods have been developed that avoid contracting the services of a bank, greatly reducing the costs of charging by means other than cash. Maybe you have a physical store. The customer arrives, falls in love with the product, wants to pay and does not carry enough cash. In addition to the bank terminals there are physical options that allow receiving payments with more accessible commissions.
Buying a device to charge customers who want to pay with a card may not be the best option for your business. Possibly the problem of your buyers is that they have the money in their account but they do not carry the card. In that case there are other alternatives based on a mobile app that works as an intermediary. The customer sends the payment from his smartphone and you receive the notification in yours.
Digital payments give you many different options. On the one hand there are the fintechs that leverage in the traditional banking system. That is, to receive their services a card is registered and payments and collections are made from it.
There are also those that the customer maintains a balance without the need for a bank card and from this operations are performed. Similarly, in some cases codes are generated that are paid in physical establishments with cash in front of each transaction.
Each business has its own needs. Do your clients physically attend an establishment? Do you offer your products online? What means have caused problems to charge, cash or cards? Technology offers you an alternative for each case. Evaluate what each one offers you and choose the one that best covers your needs when charging, so as not to lose participation in the play and much less let the future customers escape.