According to the Webshoppers report, released by NielsenIQ Ebit, Brazilian e-commerce increased its revenue by more than 18% in the first half of the year alone, surpassing the mark of R$ 160 billion. Therefore, there is a strong expectation in the segment for the 2024 Holiday Season, which has been mobilizing various companies to adopt payment processes such as acquiring services to achieve good results during the period.
According to Felipe Negri, CEO of Pinbank, a one-stop-bank-provider with a complete ecosystem of financial solutions (including as an acquirer), this alternative is a strategic differentiator for Christmas and New Year sales, a period when online stores face peaks in traffic and demand. “Seasonal dates tend to generate a significant increase in sales, but due to the high volume of offers and advertisements during this period, a high conversion rate at the payment stage is crucial for sales potential to be realized. This only happens if the brand has robust technologies to serve consumers efficiently,” he says.
“This month, Pinbank received from MasterCard the highest award in the approval rate and card-not-present fraud (e-commerce) category, demonstrating its capability as an Acquirer to serve high-volume markets with low impact on the experience, offering the best relationship between approval rate and security against fraud,” highlights the CEO.
Customer Experience (CX) Improvement
The main advantage of acquiring services for e-commerce during a critical period like the Holidays is the possibility of promoting agile transactions. “It is a solution that helps the company process a large volume of payments with different cards, bringing automated processes and eliminating human errors,” explains the fintech executive.
Due to this dynamic, customers are less likely to abandon their purchases, as the Baymard Institute reveals that approximately 171% of cart abandonment occurs due to complex and lengthy checkouts. The institute also points out that operations with these characteristics resulted in an average of 701% abandonment rate in 2023.
In addition to agility, Negri adds that acquiring contributes to promoting better shopping experiences due to its ability to generate strategic insights. “Companies can collect and analyze data related to transactions, which shows brands the paths to adapt to market trends and new consumer habits,” he adds.
Fraud reduction
Another important advantage of acquirer services is protection against online fraud attempts. A recent DataSenado survey, conducted in partnership with Nexus, illustrates this challenge for e-commerce by revealing that one in four Brazilians were victims of digital scams in a 12-month period.
“More than being optimized, acquiring is an approach that brings a higher acceptance rate from the public and companies because it is secure,” reinforces the CEO of Pinbank. “For brands to perform well in a period when the market is extremely competitive, they first and foremost need to gain consumer trust and prove to them that they have solid financial management within the digital environment,” he concludes.
