El Salvador is the second country in Central America with the highest growth in e-commerce, followed by Guatemala; with a projected growth of more than 50% by the end of this year.
Regarding e-commerce, El Salvador offers a fertile and rapidly growing market, with a market share equivalent to 30%, leading to increased digitalization of businesses in the country. Approximately 45% of the population uses the internet, and among them, 1.4 million people are online buyers of goods and services.
In the fast-paced world of e-commerce, achieving success with your e-commerce business in El Salvador may seem like a challenge. However, with the right combination of strategies and innovative tools, your business can stand out and attract more potential customers. In this blog, we will explore a key essential for the triumph of your e-commerce: the integration of a wide range of payment methods through an optimal and agile platform, such as the one offered by PayRetailers. This can make a difference in any type of business and become a determining factor in achieving success.
A localized solution, more sales
Although the global trend has been the growth of digital payments and credit cards, in countries like El Salvador, cash payments still play a crucial role in purchasing decisions. According to recent data, approximately 85% of transactions in El Salvador are made in cash. This statistic demonstrates the relevance of providing cash payment options in your online store to attract a significant segment of the population.
With Punto Express as the most widespread method, PayRetailers currently offers more than 13 cash payment methods in the country that are nearly on par, such as AirPak, Pagos 724, Credicomer, and Optima.
These methods allow customers to make their online purchases and then pay in cash at respective points, providing greater convenience and trust in the buying process. By integrating this payment option into your e-commerce, you can expand your reach and attract more customers.
Digital purchases from smartphones
In 2020, Salvadoran businesses improved all their digital platforms to offer better shopping options to Salvadorans, either through websites or mobile applications.
This trend has continued to date and is still improving, to the point that now 8 out of 10 Salvadorans have made online purchases, according to a survey by the Consumer Protection Agency.
El Salvador has a lot of room for growth in terms of e-commerce through smartphones, as 72% of the population has internet access through their phones, but only 6% of adults make online purchases.
With digital advancements, Salvadoran consumers have become very receptive to trends and international brands due to their dollarized economy and proximity to the United States, representing a great opportunity for global companies that want to be the first to reach this market. Dates like Black Friday and Cyber Monday have become key moments for mobile online shopping.
Secure payments, effective purchases
As Salvadorans are joining this technological wave of digital shopping, with over 60% of people familiar with the use of applications, websites, and transfers, one key aspect is addressing the security of their payments.
Data theft, identity duplication, and other cybersecurity issues are some of the major risks. However, none of the above is a concern with PayRetailers’ security and fraud prevention strategy.
The PayTech company employs advanced encryption technology to protect customers’ confidential data, such as credit card numbers and personal details, during transactions. It holds PCI DSS compliance certifications and utilizes state-of-the-art security protocols to prevent unauthorized access and fraud. The platform also implements real-time fraud detection and prevention systems, significantly reducing the risk of fraudulent transactions in e-commerce. These robust security features of PayRetailers inspire confidence both in merchants and end-users, creating a safe and reliable environment to carry out online transactions effectively and securely.
Elevating the shopping experience with your payment gateway
As a leading payment solutions provider, PayRetailers offers a comprehensive platform that integrates locally in Latin America, enabling businesses operating in each country to accept online payments securely, quickly, and efficiently. Their focus on localization and adaptation to the payment preferences of each country makes them a strategic ally for businesses in El Salvador.
PayRetailers is much more than a payment processor; it is an unparalleled partner to drive the growth of your business in this country and throughout Latin America.
- With its extensive regional coverage, PayRetailers provides access to a vast market with significant growth potential, allowing you to adapt your business strategies to each local market.
- It offers a diversity of over 250 payment methods, including credit and debit cards, bank transfers, e-wallets, and cash payments, enabling your customers to pay conveniently with their preferred method, increasing conversion rates and satisfaction.
- Its seamless integration works well with various e-commerce platforms and management systems, allowing you to quickly implement the payment solution and start operating in no time.
- The PayRetailers team consists of experts in payments and e-commerce, ready to provide assistance and guidance at all times. From the initial integration to the growth of your business, you will have a highly skilled support team at your disposal.
- PayRetailers provides real-time monitoring and analysis tools, allowing you to evaluate the performance of your transactions and make informed decisions to optimize your business strategies.
If you are interested in learning more about PayRetailers’ solution and how to do business in El Salvador and throughout Latin America, do not hesitate to contact us. Our team of experts will be delighted to provide you with all the information and support you need to elevate the shopping experience of your e-commerce and achieve success in this exciting and growing market. Don’t miss this opportunity and join the e-commerce revolution in El Salvador with PayRetailers! Contact us here.