The answer is definitely digital. The future of payments worldwide will be digital and Portugal is no exception.
Although the discussion is as old as the first credit cards, the reality of the figures is keen to dispel any doubts that may arise about the future of payments.
Só em Portugal, os pagamentos contactless já têm um peso na faturação dos negócios portugueses de 63%, o que indica um crescimento de 57% em relação a 2019.
In terms of the weight of transactions using this type of digital payment method, the REDUNIQ Insights tells us that, in 2023, the 81% mark was reached (65% more than in 2019), a percentage that shows a massive consumer commitment to contactless credit/debit cards and digital wallets to pay for their purchases.
These figures represent the present and give us clues for the future.
In the next few lines we'll look at what a digital payment is in practice, how important it is for Retail and what the future trends are in this area.
What is a Digital Payment?
We talk about digital payments, but what do they consist of?
In practical terms, the digital payments are all those transactions where there is no need to use physical money (notes and coins).
Within digital payments we find credit/debit cards and digital wallets, digital means of payment that can be used in online payments and in physical payments or face-to-face using the functionalities contactless, NFC or QR Code.
In addition to convenience, simplicity and speed, digital payments also offer security, as they are protected by the 3D Secure protocol and, in the case of online payments, by the added security of double authentication.
In short, digital payment is safe for customers and retailers.
The Importance of Modernising Payments for Trade
From the sum of what we've written so far, we can draw a fundamental idea: the contactless is the digital payment of the moment, which should lead retailers to modernise their offer of digital means of payment.
With contactless transactions playing an increasingly important role in face-to-face payments and consumers adopting a more demanding attitude to their purchasing journey, modernising the payment methods that retailers offer their customers is a pressing issue that needs to be addressed, otherwise businesses will suffer significant losses in revenue.
In this context, REDUNIQ has developed three payment terminals which help businesses not only to become more mobile and digital, but also to offer their customers a simple, fast and secure shopping experience.
One of these terminals is called REDUNIQ SmartIn addition to allowing retailers to accept contactless payments by card, chip, MB WAY, Google Pay and Apple Pay, they can also take advantage of a range of other features. management apps that will help you sell more and better.
Among the various applications that retailers can use on the REDUNIQ Smart TPA is the Parcela Já app, which can give them a competitive edge.
This service, which goes by the name Instalment plan with UNICRE allows retailers to offer their customers the chance to pay for their purchases in between 2 and 6 interest-free monthly instalments. Pela inclusão da UNICRE nesta solução de pagamentos digitais, o negócio tem sempre o retorno garantido, uma vez que irá receber, diariamente, o valor das operações de pagamento (deduzido a taxa de serviço) aprovadas no prazo de 48 horas.
In line with what we've already said about digital payments, the operation of this solution is extremely simple and will enable retailers to enjoy the following advantages, among other things:
- An increase in higher-value sales, since charging in instalments gives customers greater flexibility when paying for their purchases;
- The Parcela Já app has no additional fees or commissions;
- Simple contracting, as the Parcela Já App is installed on the REDUNIQ Smart POS;
- A better and more comfortable buying journey for the customer;
- There are no default or collection costs and you receive the money from transactions on a daily basis;
- Better payment management, since UNICRE offers retailers the possibility of consulting all instalment transactions in the REDUNIQ Client Area.
Future Trends in Digital Payments
The Future is built today and that's what REDUNIQ thought when it developed the REDUNIQ Soft App.
Confused? Don't be, REDUNIQ Soft is an app that, once installed on a retailer's smartphone or tablet, will turn it into a automatic payment terminal which accepts digital payments 24 hours a day, 7 days a week, 365 days a year, anywhere.
Already honoured with the prestigious ACEPI Navegantes XXI Award In the Best Digital Evolution Project in Proximity Commerce category, this solution allows a retailer to receive digital payments via contactless cards, MB WAY, Google Pay, Apple Pay, QR Code, mobile phone number and NFC.
As consumers expect, the payment process is extremely fast, simple and secure: once the customer has selected the purchase, the retailer simply opens the app and enters the amount to be paid into the application.
After these steps, the customer selects the desired payment method (QR Code & NFC, Mobile phone number or Contactless) and the money is immediately debited from their account. To finalise the transaction, the retailer authenticates and issues the payment receipt in the app and then emails it to the customer.
A simplicidade é, verdadeiramente, a pedra de toque do Futuro, um Futuro que nasce já hoje com a REDUNIQ da marca UNICRE – Instituição Financeira de Crédito, S.A., e as suas soluções de pagamento inovadoras.
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