It’s important to comprehend Brazil’s unique payment preferences before entering the market. The following are the top 5 factors to take into account in Brazil when selecting a payment processor:
- Local Payment Options: PIX, local cards, and cash are the most popular options. Although international cards have their place, over 25% of internet transactions use PIX.
- Customer Preference: Seamless checkout experience are highly valued by Brazilians, particularly when using mobile devices. Make sure your processor accommodates regional preferences, such as installment payments, and provides a straightforward, one-click payment option.
- Pricing and Fees: Chargebacks, monthly fees, and transaction fees are just a few of the fees that payment processors charge. Analyze the various alternative fee structures and select the one that best suits your budget and business volume. Remember, competitive fees might not outweigh the benefits of features crucial for your specific needs.
- Security and Compliance: Verify that the processor protects client data with strong security measures and conforms with Brazilian rules. Pay attention to aspects like PCI DSS compliance, data encryption, and fraud prevention. It’s critical to collaborate with a processor who understands local security issues.
- Extra Elements: Think about what else you could require. Does your business need multi-currency support for sales abroad? Are marketplace features or subscription management necessary? Select a processor with capabilities that complement your expansion goals and business strategy.
If you wish to sell in Brazil but don’t want to deal with the complexities, connect with a payment processor based in Brazil. Their knowledge of the peculiarities and laws of the local market allows them to provide more insightful advice and assistance.
Keep in mind that your particular needs determine which processor is the “best.” Investigate, evaluate, and rank aspects in accordance with your company’s objectives and the preferences of your Brazilian clientele.
