It is no secret to anyone that online sales have become a fundamental pillar for any business, both physical and digital, that is why Mexican scaleup Conekta will expand its cash payment network For purchases in electronic commerce, this represents a great boost for said sales channel considering that millions of people are not banked and prefer to pay in cash for any of their purchases.
29 million people join the digital economy
Conekta would add to more than 29 million people in the digital economy Thanks to the expansion of the South of Cash Payments for online purchases, with more actions for online negotiations, we will be able to get more customers who will be facilitated in cash within the payments in more than 30 thousand available points of sale.
Cash is the first point of access to digital commerce for 29 thousand 85 million people, that represents around 32.3% of the population over 18 years of age in Mexico, in addition, around 87% of Mexicans prefer to pay in cash.
“Today, electronic commerce already represents close to 400 billion pesos in Mexico. Imagine how the sector would grow if the unbanked population accesses the digital economy through cash payments. This expansion is one more step to achieve our mission of bringing the digital economy closer to everyone”, explained Héctor Cárdenas, CEO and co-founder of Conekta.
This is how Conekta facilitates the cash payment method
To use the solution offered by Conekta the user only has to choose the payment method in cash when making an online purchaseHello will generate a reference to go to the point of payment that the consumer wants. Cash payment is credited immediately and businesses will be notified in real time.
Payment in cash can be made at the following establishments: Oxxo, 7-Eleven, Farmacias del Ahorro, Extra, Círculo K, Tiendas Extra, Waldo’s, Woolworth and Del Sol, Yepas, as well as Grupo RFP, which has several pharmacies. The company announced that Walmart, Soriana, Kiosko and Farmacias Bazar will add the latest options for users to pay in cash.
Purchases made in Mexican Conekta have grown up to 43%
In these first 6 months of 2022, Conekta reported a 43% increase in online transactions, with an average ticket of 758 Mexican pesos. He reported that companies in Mexico have registered an increase in the sales of their businesses from 2021 to 2022 from the incorporation of cash payments: small companies will increase by 42%, medium-sized companies by 62% and large companies by 22%.
In larger companies (top-market) has registered an 86% increase in online operations paid in cashMost of the industries of this type of business report a significant increase in the profits of the clients in effect: the furniture for warehouse and offices has increased by 932%, the tickets and registrations for the event by 700%, and the sale of electrical material by 112%.
Finally, For small and medium-sized businesses, online transactions with cash payment have quadrupled in certain items from 2020 to 2022. For example, the real estate disposal sector registered an increase of 653%, legal services and lawyers 376% and the sale of means of transport 220%.
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