Many digital entrepreneurs opt to offer installment payment slips to increase profits related to launches. The alternative, which is complementary to credit cards, allows revenue streams to be expanded and, consequently, business growth. However, there is still a common fear regarding delinquency that can come from installment payment slips.
In the case of info product creators, offering this type of solution can help double revenue, but it is necessary to ensure transaction security and reduce payment risks. “The problem is not about selling installment payment slips, but in how you apply it to your sales,” states Reinaldo Boesso, a financial expert and CEO of TMB, a fintech specializing in payment through installment payment slips.
According to the executive, about 70% of the Brazilian population has debts and difficulties accessing credit, so offering payment alternatives like installment payment slips is crucial in the country. “Many Brazilians do not have credit limits on their credit cards, with a good portion being used to pay for their daily expenses. Installment payment slips may be the only opportunity people have to change their lives, but the info product creator needs to be cautious before offering it,” he explains.
According to Reinaldo Boesso, some steps are necessary before digital entrepreneurs start offering installment payment slips. They are:
- Credit analysis and documentation: It is necessary to perform a financial analysis of the person buying the product to reduce the risk of delinquency, as well as to verify the authenticity of documents.
- Contract Signature: Requiring the signature of a contract in an installment purchase strengthens the customer’s commitment to payment and provides more legal security for collections.
- Payment Management, Billing, and Renegotiation: After ensuring data security, it is necessary to charge an entry installment, send payment invoices every month, prompt the customer to make payments on time, and renegotiate debts to avoid default.
The TMB CEO emphasizes that there are many processes, all of which are necessary to ensure maximized payment completion. “At TMB, for example, we automate all these steps with 98% approval, hence the info producer gains ease and speed,” he states.
According to the executive, another way to ensure security for info producers is working with receivables anticipation. “In our case, we offer the option to anticipate installments before the customer finishes paying for the product. In other words, we aim to greatly reduce risks and even provide a risk-free alternative for those involved in launches,” explains Reinaldo Boesso.
