PayRetailers offers merchants looking to operate in Mexico the option of using OXXO, the country’s most convenient payment solution, to increase sales and the reach of their business.
The incorporation of cash payments is an attractive option to boost digital sales, especially for a major market such as Mexico, where cash is the preferred payment method for consumers.
Through PayRetailers, global merchants can offer payments by coupon at OXXO—the country’s largest convenience store chain—allowing end customers to pay cash for their online purchases quickly and easily.
Once the customer selects this payment method, a coupon with a barcode is created that can be presented at any store to complete the purchase.
With its 128 million inhabitants, Mexico is the second most populous country in Latin America and offers a large market with great commercial and digital potential. In fact, Mexico is in the top 5 of the fastest growing countries in online retail along with large markets such as India, Brazil, Russia, and Argentina.
According to the Diagnosis of Financial Exclusion in Mexico, around 70% of Mexicans don’t have access to banks. As a result, most of the population uses cash to pay for their purchases.
Accepting payments through OXXO increases your conversions
Mexicans are accustomed to using coupons for their payments, as well as making transactions at convenience stores because of their proximity and availability on every street corner. Some of the benefits of using this method include:
- A risk-free payment mechanism: the potential for chargebacks on purchases is eliminated, while PayRetailers’ filters monitor transactions to minimize possibilities of fraud.
- Real-time confirmation: sales notifications in seconds, ensuring speedy transactions.
- Customer support: OXXO has extensive customer-service hours and is available 365 days a year, which represents a great opportunity to boost sales. At the same time, PayRetailers provides 360º support to international merchants operating in the country, plus a team of local experts.
- Convenient check-out: the geographic coverage of this payment method is very broad. An estimated 88% of Mexicans have a banking correspondent within walking distance and they’re a good option for consumers who don’t have a bank account or credit card.
Accepting OXXO payments through PayRetailers boosts Mexicans’ purchase intent. By simply presenting their certificate or coupon, customers can pay for everything from their electricity bill to airline tickets.
As part of its localized strategy for the different needs of each online business, PayRetailers—a Spanish company with more than 250 local payment methods in 12 Latin American countries—offers the most convenient payment methods for end consumers in each country.
Now that you know that cash payments continue to play a strategic role in Mexico and throughout the region, contact us to start incorporating OXXO as a payment method into your business. Contact us!