The growth of e-commerce over the last few years has led many businesses to adapt to enter and win this sales channel as appetizing as it is competitive.
Just to get a sense of the importance of e-commerce in the current Portuguese consumer landscape, the latest CTT E-Commerce Report tells us that in 2023, the e-commerce market in Portugal reached 5.9 billion euros, 8.8% more than in 2022.
By the end of 2024, this document estimates that the total value of online purchases of products will reach 6.7 billion euros.
MB Way is the preferred online payment method of Portuguese consumers
In addition to the gross invoicing values that indicate a growing democratization of e-commerce among Portuguese consumers, the CTT report leaves some trends for the future directed at businesses.
Among them, AI (Artificial Intelligence) stands out, which the document states is to boost efficiency, optimization and sustainability of operations, as well as improve the consumer experience through simplification and greater process customization, as is the case of payments.
Every year, according to the CTT E-Commerce Report, Portuguese consumers spend around 1287 euros per year on online purchases which, in turn, pay with:
1.MB Way (47.4%)
2.Paypal (44.2%)
3.Reference ATM (34.6%)
4.Credit and Debit Cards (29.8%)
5.Virtual Credit Card (20%)
In view of these trends, so that Portuguese online businesses continue to maintain a growth trajectory, it becomes necessary to adopt online payment solutions in line with consumers’ habits.
This means, roughly speaking, to prepare themselves for receiving digital transactions through the methods referred to in the CTT report.
How to adapt your online business to current payment trends?
To continue selling online and ensure the satisfaction of your customers, it is urgent to equip your business with online payment solutions that guarantee not only a simple and frictionless checkout (payment completion), but also well as a wide range of means of payment for purchases that suit current consumption habits.
However, before we tell you how to do it, it is important to note that online payment methods vary depending on the type of platform where you do business, that is, whether you sell through your website or from marketplaces or social networks.
With the help of REDUNIQ, experts in developing online payment solutions, let’s see how you can prepare your business to receive transactions.
Let’s start by selling online through a website.
Payment methods for professional online shops
In this case, it is important to equip your online store with a payment gateway like REDUNIQ@E-Commerce, an easy-to-integrate solution with your website that will practically guarantee you an extremely simple and fast checkout.
In terms of payment methods, this solution will allow you to receive transactions with debit and credit cards Visa and Mastercard without membership fees and with the advantage of still taking advantage of the monthly fee offer.
At the time of payment, your customer will be forwarded to a secure payment page of UNICRE where you will have to enter your card data for the issuing bank to make its validation.
Once the transaction is validated, the money will be credited to your bank account within a few business days after the payment date.
Payment methods for those who sell online without a website
Who sells through social networks finds in the solution turnkey
REDUNIQ@Payments is the ideal business partner. Why?
To start with, this solution does not require any integration, something that reduces costs and makes the whole operation simpler.
In addition, the customer will have at his disposal the preferred online payment methods of Portuguese consumers, such as MB WAY, Multibanco references and Visa and Mastercard credit cards.
In operational terms, this solution will provide your customers with a secure payment platform, optimized for smartphones and tablets, where your business creates a link, which can then be sent by email, SMS or WhatsApp to the customer.
At the moment you receive the payment link, your customer will only have to click on the link to be forwarded to a secure REDUNIQ page ensuring that they will not have access to the customer’s card data in any stage of the payment.
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