Increase payment conversion and accelerate your business growth
A complex payment system creates an onerous experience for your customer network. Stop losing sales by using a payment processor such as PayRetailers, which streamlines processes and provides a fast, seamless payout experience for all payment methods and in more than 12 markets in Latin America.
Picture this scenario: you’re the owner of a hotel, and a potential guest spends valuable time comparing every available rate, room and amenity until finally choosing a suite at your establishment. But when they’re ready to pay, their usual payment method is not available, the payment process is complicated or in the worst-case scenario, the transaction is declined.
Anticlimactic, right? But it happens more often than it should and not just at hotels but also at airlines, restaurants, clothing and footwear stores, or any other industry that needs a gateway to offer online transfers. That’s why choosing a payment processor that can offer a frictionless experience is crucial for growing a digital business.
Statistics show that a complex checkout process is the reason why almost half of all shopping carts are abandoned; from an unintuitive and rigid integration lacking a broad range of payment solutions, to a slow and even unsafe process that puts the customer’s money, data and the optimization of the business’ revenue at risk, along with other things that don’t meet the client’s expectations.
PayRetailers provides an all-in-one payment platform that is designed to enhance the growth of international business in Latin America with over 250 frictionless payment methods boasting increased security, fraud protection and a higher approval rate for transactions in different currencies.
Keep reading for an in-depth look at what it takes to deliver an optimal experience at the peak of the purchase process — the checkout.
Expand your business globally with local payment strategies
Latin America is a region as diverse as its payment methods. In Brazil, for example, stores prefer to use the instant payment system PIX to boost sales. Meanwhile, in Mexico, where cash remains the most popular payment method, it’s necessary to offer a range of payment options such as OXXO, where 80% of non-bank cash deposits are processed.
Even if a business has global reach, it must think locally and adapt to the specific payment habits of each sector in order to gain and maintain scale in an increasingly competitive digital world.
This is one of PayRetailers’ many value propositions, enabling transactions in local currency, EUR, and USD to optimize approval rates.
Leveraging a single platform that offers a variety of traditional and alternative payment methods reduces costs and processes. It’s a strong local strategy that makes financial sense for international businesses, as it avoids the need to hire multiple local suppliers in each country of operation.
Safety: Learn more about the process experience and give greater security to your customers
A frictionless checkout experience = higher conversions. Repeat it like a mantra.
Online sales continue to grow in Latin America, accounting for 14% of all retail in the region by the end of 2021, more than twice as much as in 2019. However, attempts to dupe customers are also increasing. So, it is up to the digital retailer to create conditions that convince the user to share their data, without breaches or incidents.
For example, PayRetailers uses a sophisticated fraud prevention framework that, with the platform’s easy integration, ensures the user’s information is always protected and validated by high security standards and PCI/DSS compliance, including tokenization.
Its unique integration also allows you to customize transactions according to your business model and transactional goals, such as blocking certain BINs (bank identification numbers on cards) or restricting high-value operations.
The front-end is also important for e-commerce consumer retention as well as for navigability and user experience (UX). Customers will feel more secure if they interact with clean and intuitive interfaces, showing them where they are in the checkout process using a progress bar or a timer.
Providing the shopper with an excellent payment checkout experience eliminates pain points and increases conversions. For that reason, having a local payment provider with state-of-the-art tools is essential to secure operations.
Payouts: a solution that offers a complete local payment experience
In order to take the processing and distribution of payments to the next level — be they mass or individual payouts — it is essential to provide flexibility for each country, which will make it easier for global companies to make fast, secure local-currency payments to users in Latin America.
PayRetailers’ solution adapts to the specific needs of each business and enables you to overcome regulatory challenges easily with multiple payment methods.
In addition, it provides a clear view of the evolution of balances and transactional activity, which allows a peripheral view of the results and more accurate conclusions.
Understand your business in greater depth and increase the efficiency of your payments. Interested in learning more?
We help you reach more customers in Latin America. We’re ready to take on your payment challenges and turn them into global opportunities. Contact us!