Social isolation and the emerging of new technological resources have driven the e-commerce boom in Brazil and worldwide. According to a report by XP Investments (a brazilian brokerage firm providing financial education from investment), the sector grew by more than 40% in 2020. And with the vaccination and easing of isolation, there is an expectation of a 32% increase in 2021.
To benefit from this success, it is crucial to adopt new technological trends in your e-commerce checkout if you are selling to Brazil. One of them is payment via Pix, the new mobile method already used by millions of Brazilians and rendering benefits to e-commerce companies. Check further information about Pix (brazilian instant payment method) and learn about Pix Billing, with simple and convenient integration, for your e-commerce business.
What is Pix?
Before discussing the importance of Pix in boosting e-commerce, it is worth understanding how this payment method works. In general, this method allows individuals and companies to make payments in real-time.
Therefore, those who sell products or services receive the funds immediately and, those who make the payment have the guarantee of instant payment. Which, in turn, is reflected in the delivery of the product or service.
Moreover, this form of payment is simple, fast, safe, and convenient. It is essential for those who own a virtual business, like an online business.
The impact of Pix on e-commerce
Without a doubt, making the purchase process more convenient and intuitive was the biggest impact that Pix has had on e-commerce. According to a survey by Gmattos (brazilian consulting company), reported by Valor Econômico (one of the most respected sources of news in finance and the economy in Brazil), Pix is available in 25% of the surveyed shops. It demonstrates the acceptance of this payment method but with a slow adherence.
After all, payments by Pix are instantly identified by the seller, expediting the production and shipping of the product.
The speed of this process is another point worth highlighting, as it reduces the likelihood of the customer giving up the purchase, as can occur with purchases paid by bank slip.
In addition, other benefits demonstrate the positive impact of using Pix and its influence on the e-commerce boom. Check them out below:
Usually, payments made by bank slips take between one and three working days to clear. During this period, it is common for the customer to decide to cancel their purchase or choose a competitor product or service.
With the use of Pix, this type of problem does not exist. The customer makes the payment at any time of the day, and within seconds, the money is in the vendor's account. Hence, both you and the customer benefit.
Improving cash flow
Despite the rise of e-commerce, retailers still need to develop strategies to keep a healthy cash flow. Notably when this operation involves the payment of suppliers, employee salaries and the purchase of goods.
For this reason, many retailers have started using Pix to streamline this payment process and bypass the high fees charged for bank and credit card transactions. After all, with cash receipts, managing and optimizing the company's cash flow is made easy.
Speedy production and delivery
Customers who buy online are usually anxious to receive their orders. However, the tracking code is only released when the vendor confirms receipt of payment.
By using Pix, instant payment confirmed. Thus, both the production and shipping of the product are swifter, and the customer is more satisfied with the service provided by your company.
Given the importance of this payment method, WePayOut has developed a new solution for e-commerce owners: Pix Billing. This new feature aims to optimize the reception of payments with an integrated solution via API for even more efficient response times. Pix Billing generates a QR code with a copy and paste function, a payment link, and is mobile responsive.
The service is available for domestic customers. However, international companies can also benefit from the features for international transactions, in addition to the other advantages of this payment method:
- Generation of a payment link.
- Instant payment confirmation.
- Tailored checkout.
- Use of QR Code for receiving.
- Features as a bank slip (“boleto”), including split billing.
Did you like the service? Then register and request a trial.: