BuyPayment is a startup Mexican that offers a system of payments in cash to make Internet shopping. They provide all those who do not have a credit card to buy in online stores. The operation that the startup CompraPago uses consists of issuing a purchase ticket via SMS that can be paid in different stores that function as payment points, such as OXXO, Walmart, Seven Eleven, Coppel, Elektra, among others. A few hours after payment, the transaction is completed and the service or product is shipped to the customer.
CompraPago grows rapidly. It currently has more than 130.000 payment points where you can pay for purchases made via Internet. These payment points collect the amount of the purchase made by the customer and confirm the receipt of the cash to the supplier so that it can release the product or service purchased.
Although at first it may seem a bit complicated and annoying, it really is a great solution for the Mexican market, where the annual sales volume is almost 8 billion dollars and where 103 million potential buyers do not have credit card.
The CompraPago system is based on REST and allows processing cash receipts no need for customers to leave the purchasing process in the eCommerce or application where they make the purchase. Through a Webhooks service, merchants receive a notification on their systems when payment occurs at one of the associated payment points.
The CompraPago system is very easy to implement, as it is enough to copy and paste a code to generate the button.
This innovative idea of Comprapago is helping to enhance the e-commerce in Mexico And, at the rate of growth they are acquiring, it is likely that they will soon spread to other Latin American countries. In general, it is an excellent idea to favor the development of eCommerce and make it easier for all people who do not have a credit or debit card for whatever reason to buy online.
Is it really necessary and profitable?
But, the question is: is it really worth it, with other forms of alternative payment much cheaper? The truth is that he Cash on delivery It is a form of cash payment for the collection of products sent widely used by people who prefer to pay in cash, without cards. But it has quite a few points against it, such as the additional percentage that must be paid for the service and, above all, the expense it entails for the merchant if, finally, the customer does not pick up the package and it is returned.
For this reason the CompraPago service is an excellent solution for merchants who want to offer this option to their customers, and also reaches the salespeople of services or products of discharge, who could not access the cash on delivery payment for obvious reasons.
Although it has a high cost per transaction, the solution is being very well accepted in the Mexican market.
More information - Advantages and disadvantages of eCommerce: The customer's point of view, Challenges of small businesses to eCommerce
Web - BuyPago.com