Bank slip payments: learn more about how to sell in Brazil

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As you look into expanding your store’s presence, it is essential to learn about the preferred payment methods of other territories. For instance, the bank slip is highly popular in Brazil, which is a country with an ever-growing ecommerce scene.

A bank slip is a type of payment that involves the issue of a voucher with a barcode that is paid by the consumer. After a purchase, they are able to choose this option, generate a bank slip and pay it by any means preferred using their own bank or third-party institution.

Because of this, the bank slip offers great convenience to multiple kinds of clients. After all, they are no longer locked to each store’s supported banks or cards, as they are able to pay the bank slip using their own methods, even including cash.

With increasingly attractive numbers from Brazilian ecommerce, companies that wish to make business with such customers need to learn about this valuable payment method. Below, you can find all you need to catch up on the subject.

Why work with bank slip payments?

Working with bank slip payments means having a more attractive environment for Brazilian shoppers. And they are increasingly an important audience to have in your business.

As of 2021, Brazil has a 32% market share in Latin America’s ecommerce segment. According to market forecasts, this year is expected to generate over US$ 26 billion in revenue in online shopping in Brazil. All that data comes from Statista.

All this purchasing power is outside your business’ scope if you don’t adapt to Brazilians’ preferred payment method. Offering bank slip as a choice means a higher chance of increasing your income through such an up-and-coming audience online.

Additionally, this payment method offers a greater sense of security to the customer. After all, the actual payment does not occur online, thus stays away from possible threats of access breaches. This is a great way to target people who might still be hesitant about online shopping.

How to easily add bank slip payments to your store?

Knowing how bank slip payments work is just the first step into making it a reality at your online store. The most important stage involves implementing it through a system that automates most tasks and is completely compliant with such a method.

That is why it is important to work with a payment provider such as LATAM GATEWAY. Through it, you can add express bank slips as an option to your consumers, which gets them a payment confirmation within 30 minutes.

By working with LATAM GATEWAY, you can count on the best technology available to integrate bank slip payments to your store while offering the most convenience to potential new Brazilian consumers.

Add bank slip payments to your store with LATAM GATEWAY

LATAM GATEWAY also offers additional payment methods to online stores such as deposits, credit card, bank transfer and digital wallets. Such solutions are also available for Mexico, Chile, Argentina, Peru, and Colombia. 

As you learned above, bank slip payments are big in Brazil and can bring plenty of consumers to your online store. All that you need to do is offer such a payment method through a system such as LATAM GATEWAY’s and enjoy its benefits in speed and reliability.

Learn more about LATAM GATEWAY’s services in online purchases payments at the official payments page!

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