DATA SECURITY IS A SIGNIFICANT MOTIVATOR FOR ALTERNATIVE METHODS SUCH AS MOBILE APP PAYMENTS OR CRYPTOCURRENCIES .
INDUSTRY WATCH
DATA SECURITY IS A SIGNIFICANT MOTIVATOR FOR ALTERNATIVE METHODS SUCH AS MOBILE APP PAYMENTS OR CRYPTOCURRENCIES .
Recently , we have witnessed a significant shift in people ’ s consumer habits . A trend gaining momentum is cardless payments because consumers are increasingly opting for alternative payment methods , embracing contactless initiatives .
This new choice concerns many factors , from security and privacy issues to the convenience offered by new technologies . Given this landscape , it is essential to note how this trend will impact Brazilian point-ofsale establishments .
Data security is a significant motivator for alternative methods such as mobile app payments or cryptocurrencies . Research indicates that people feel more secure with systems like these , as they incorporate additional protection layers and data encryption to secure transactions .
Another contributing factor to this trend is the convenience provided by new technologies . Currently , it is possible to make quick and practical payments through digital wallets , such as Apple Pay and Google Pay . Just bring your phone close to the readers to complete transactions . This agility appeals to consumers who value convenience in their shopping routines .
As a result , we can affirm that Brazilian establishments are facing a new landscape of payment methods , with accelerated Digital Transformation demanding a fresh perspective on alternative payment methods . At the onset of the pandemic , 88 % of Brazilians considered contactless payment more convenient than using cash , and 75 % of this group that tried the technology indicated they intended to incorporate this new habit .
Now , post-pandemic , contactless payments with cards or other devices totaled BRL 191.3 billion in the first quarter , an 85.4 % increase compared to the same period last year , according to the Brazilian Association of Credit Card Companies and Services ( Abecs , in Portuguese ). Contactless transactions in March reached 43 million payments per day . Experts agree with research that points to a continuous and significant growth curve in the coming years .
In this new environment , one convenience emerging as a trend is SoftPOS or Point-of-Sale Software . It is a new technology that enables smartphones or tablets to process purchases , accepting various forms of contactless payments . SoftPOS completely replaces traditional payment terminals and empowers mobile devices to assume these new roles using a specialized app .
This technology is poised to revolutionize how sales are processed , offering significant advantages for stores and small businesses .
By transforming everyday devices into secure and efficient tools for payment processing , SoftPOS reduces merchants ’ costs , increases convenience , enhances security and ushers in the changes towards the new consumption model .
SoftPOS provides an economical alternative to conventional point-of-sale systems , as the acquisition and maintenance costs of physical terminals are substantial , especially for small businesses . Consequently , expenses can be significantly reduced as merchants can use their devices to process sales .
Convenience is another notable differentiator . The ability to receive payments anywhere and anytime provides convenience for both merchants and customers . Imagine a local producer or a small retailer looking to expand their sales at events . With SoftPOS , they can accept payments quickly and securely .
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