A first-hand account of the payment landscape in Brazil

A first-hand account of the payment landscape in Brazil

YouTransactor welcomed Murilo Malta to its office in Paris, a few weeks back. Murilo lives in the area of Sao Paulo and manages the commercial activities for YouTransactor in Latin America. 

His mission involves reaching out to new prospects across the region (large acquirers, fintechs, PSPs, and marketplaces), managing the relationship with existing accounts, and establishing local partnerships in Brazil.

We took his visit as an opportunity to get his views on the Point-of-Sale solutions market as well as YouTransactor’s positioning.

Q: How has the Brazilian payment market evolved over the last 12 months?

A: The market is very warm, in terms of demand for POS terminals. YouTransactor has a long experience serving top players and operating in this market since 2017. So far we have been able to keep up with growing volumes while addressing the challenges associated with component sourcing. So, many opportunities ahead!

Q: What are YouTransactor’s competitive advantages in Brazil?

A: We have full capacity to produce locally, in Manaus. We also work with local, long-established partners.

In parallel, there is high anticipation for a high-end, innovative, and autonomous 4G product like the uCube Touch. The more affordable Bluetooth version also has some demands to offer competitive packages. In addition, with the advent of PIX in Brazil, QR display functionalities are very much of interest. All of these needs can be served with our product, the UCube Touch.

Last but not the least, Brazilian clients like to work with agile companies that operate in a start-up mode.

Q: What are the challenges to growing a business in Brazil?

It can be a little difficult to deploy an innovative product that is new to a foreign market for the first time and raise awareness about the brand. 

For a POS terminal provider, certifications specific to Brazil are a must-have, in particular, ANATEL for communications, and ABECS for payments. YouTransactor is currently passing these certifications for the new generation of the uCube Touch. The terminal has a large potential in Brazil and has already generated considerable interest among several players.

Other challenges include tax management, which can be complex in Brazil. 

Q: What do you think about SoftPOS?

Nb: payment acceptance through an App installed on an Android commercial smartphone

With the increase of NFC cards, everybody is starting to pay using contactless. Brazilian shoppers are quite digital-savvy so SoftPOS becomes an interesting and cheap option for independent merchants to accept payments.

It is seen as a disrupter. Nevertheless, SoftPOS is not going to be a one fits all solution: it makes sense only for self-employed and there is still a large base of contact-only cards in the region. Overall I see it as a great complement to the mobile POS.

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Sopra Banking Summit

Sopra Banking Summit

YouTransactor s’associera à Sopra Banking Software dans la semaine du 18 au 22 octobre 2021 pour le Sopra Banking Summit, un événement conçu pour aborder les plus grandes questions du secteur financier.

Ce festival fintech d’une semaine vise à aborder certains des sujets les plus actuels dans les services financiers et à mettre en lumière les nouvelles voies que les leaders du secteur empruntent.

SBS Summit Logo Black Center

L’événement est soutenu par un puissant écosystème d’entreprises, de fintechs et de partenaires du secteur, avec des noms tels que Amazon Web Services (AWS), Axway, Currencycloud, Digime, Fidor Solutions, France FinTech, Galitt, IBM, Paymium, Rubyx, Smile & Pay, Tink. Les voix clés de plus de 1 500 institutions financières, de plus de 100 fintechs et de plus de 25 orateurs CXO participeront à un dialogue sur l’avenir de la finance.

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How mobile POS simplifies tipping and donations

How mobile POS simplifies tipping and donations

Tipping customs vary across countries – In the United States, it is customary to tip a restaurant server 15-25%, in Brazil, 10%, in Sweden, 5-10%.

The customer may not, however, always feel comfortable parting with cash.

Can both the customer and the waiter ever be happy?

Enter non-cash transactions. 

In 2016, the Federal Bank of Boston found a 409% disparity between cash and non-cash transactions. A study from the Journal of Applied Psychology found that diners tipped an average of 4.3% more just by seeing a credit card logo on the tray that holds their restaurant bill.

Tipping has predominantly remained a cash activity. The current Covid-19 crisis has resulted in fewer people carrying, and less likely to leave or exchange notes or coins, for health or hygiene reasons. The servers in the hospitality industry have borne the brunt, with the shift to more cashless methods of payment squeezing their revenues further. 

Tipping is made much easier with the option of having cards or phones to tap and tip.

In addition to tipping, charities are also heavily reliant on cash. Goodbox has taken on the initiative to combat the problems charities face in a cashless world through contactless technology leading to an uplift of 64% in the donation income of their charity partners. ING has rolled out contactless charity donation boxes, while animal welfare charity Blue Cross has kitted out dogs with coats featuring contactless terminals so that Brits can make donations with a pat and tap. 

In 2020, the Royal Canadian Legion partnered with HSBC Canada to pay tribute to the nation’s heroes on tap-enabled readers supporting credit cards or mobile and wearable options like Apple Pay.

Busk in London, a Mayor of London initiative, partnered with Zettle in 2018 to give card readers to performers. The project allowed street musicians across London to accept payments via contactless cards technology in addition to cash and chip cards. Launching the scheme, London’s mayor, Sadiq Khan, said it would allow more Londoners to support the capital’s street performers. Charlotte Campbell, a full-time busker in London, said she had seen a significant impact on her earnings after trialing the scheme for two weeks. She has the card reader set up to deduct £2 per tap so fans do not have to select a donation amount. “I believe if street performers like myself don’t adapt to the cashless society we are edging towards, we’re at risk of becoming a dying art,” she said.

To address this emerging trend, YouTransactor provides a complete mPOS technology and software suite, as a foundation for your lightweight terminal project. We also offer the hardware, thereby allowing you to create a sleek, affordable product facilitating fixed amount cashless payments, to make tipping and donations time-efficient and compact.

PS. In the early days, before Justin Bieber became an international pop icon, he often used to busk on the steps of the Avon Theater Stratford.


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