5 Tips to choose the best means of payment and boost sales

With the accelerated digitalization of business and the expansion of payment options in the market, the choice of the most appropriate means has become a strategic decision for companies. This process directly impacts the customer experience, transaction security and operational efficiency.

To illustrate, the Zoop Trends Report 2024 it reveals that this year, 53.5% of payments in Brazil were made digitally, a significant jump compared to the 39.5% recorded in 2023. This advance reflects the growing adherence of Brazilian consumers to electronic payment methods.

With this scenario in mind, Alex Tabor, CEO of Tuna Payments & payment orchestration platform & I.E., shares five essential tips to help entrepreneurs choose the payment methods best suited to their needs.

1. Know the profile of your audience

For the CEO, the first step in selecting the means of payment is to understand who your customers are and what their preferences arefor example, a younger audience tends to use digital wallets and PIX more often, while a more traditional clientele may prefer credit card or bank slip payments. Adapting to consumer preferences can increase satisfaction and sales.”, he says.

2. Assess the security of transactions

“Security should be a priority when choosing payment methods. Opt for solutions that offer fraud protection and are in line with regulatory standards, such as PCI DSS (Payment Card Industry Data Security Standard)”, says Alex. In addition, it is important to consider means that allow two-step authentication, data encryption, facial recognition and other security features (fintech Tuna even offers this type of structure.

3. Consider the costs involved

Each payment method has its own costs, which may include transaction fees and chargeback charges. According to the executive, “it is important to make a detailed analysis of these costs in relation to the sales volume and the average ticket of the company. Choosing means of payment that balance costs and benefits can help maintain the financial health of the business”.

4. Integration with existing systems

The compatibility of payment methods with the management systems already used by the company is crucial. Therefore, the importance of hiring payment facilitators that offer a wide variety of operators. “Check if the chosen solutions integrate easily with ERP, CRM or other software that your company uses.Efficient integration can automate processes, reduce errors and improve financial and accounting control”, adds Alex.

5. Flexibility & scalability: 

“As a company grows, payment needs also evolve”, recalls the CEO of Tuna.“Pso it is important to choose payment methods that offer flexibility and can adapt to the growth of the” business, he adds. Scalable solutions that allow you to add new methods or increase the volume of transactions without complications are ideal for expanding companies.