Regardless of the size of a company, good management of business expenses, streamlining purchasing processes and customer satisfaction are key elements. Balancing these three aspects isn't always easy, but a credit card can help.
It's not just the advantages, which we'll explain later, that justify it. The figures for transactions with credit cards with contactless technology and the adoption of solutions that favour the adoption of Contactless TPA (automatic payment terminals with Contactless) have grown exponentially in the last five months.
According to REDUNIQ Insightsthe weight of the Contactless payments in company turnover accounted for 13% of the total cake (+8% compared to the same period in 2019) in March this year, while in July the figures showed that the percentage had already risen to 26% (+20% compared to the same period in 2019). The same happened with the average amount spent on each purchase (average ticket). In January, this economic indicator stood at 14.46 euros, more than 6 euros less than the figure recorded in July this year (data up to the 18th), which stood at 20.75 euros. In this case, the decision to increase the maximum amount per transaction via a Contactless card from 20€ to 50€ without having to enter the PIN into the automatic payment terminal - Physical TPA or mobile.
If we add to this the the convenience, speed and hygiene of contactless credit card payments are carried out, we find the justification for the fact that the turnover of companies in areas as diverse as the RestorationIn the last few months, the average growth rate for pharmacies, hairdressers and decorators using this technology has been 30 percentage points.
This increase in weight Contactless in the turnover of Portuguese businesses becomes even more important when you realise that the overall turnover of companies exceeded the pre-pandemic figures in the second and third weeks of July, establishing a connection between "contactless" transactions, the average ticket generated and the financial recovery of economic agents.
Advantages of accepting credit cards
In the same way that consumer habits and payment methods adopted by the Portuguese are changing rapidly, and the technological transition required of companies to keep up with these changes is taking place at a high pace.
The adoption of a automatic payment terminal with Contactless technology for accepting Contactless card (or smartphone or wearable) payments and the gains in billing, management and customer service that this brings to the business are the catalyst for all of this.
In this sense, the REDUNIQ provides companies with a TPA solution state-of-the-art, free of membership and loyalty costs and with an important security feature, since the REDUNIQ is the only organisation in Portugal with PCI DSS certification, which guarantees the confidentiality and integrity of data and certifies that the entire payment process is truly secure in all its dimensions.
As well as accepting card transactions from the main international payment systems, this Contactless TPA da REDUNIQ gives companies the opportunity to manage payments more efficiently by integrating the payment terminal with the main invoicing software, making the card acceptance process faster and more secure, with higher average transactions and the guarantee that the payment is actually made.
If the company works with and/or wants to attract foreign customers, this terminal allows customers to choose to pay by card (Visa or Mastercard) in their currency of origin, in a transparent, informed and secure way via the DCC - Currency Conversion. This service can also result in additional gains for the business as it provides financial incentives based on the volume of invoices converted.
How do we see putting technical means at the customer's disposal that enable accept credit card paymentsespecially with ContactlessThis gives companies great advantages not only in terms of the service they provide to a customer who increasingly demands speed and security when making payments, but also in terms of their invoicing and management of accounting and operational processes.
Advantages of having a credit card
A corporate credit card is a product designed especially for companies that basically has the same functions as a credit and debit card for individuals, but with specific features to meet the needs of organisations such as paying for fuel, bonuses, advances, corporate travel, etc.
If companies reap the benefits of accepting credit cards, the opposite is no less fruitful. Controlling, organising and managing business expenses comfortably and securely are some of them, but not the only ones, as we'll see below.
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Centralisation of accounts:
Managing a company's finances isn't the easiest of tasks, but it can get even more complicated if the business's expenses are spread across several accounts and credit cards. In this sense, the use of corporate card aims to simplify companies' lives by centralising spending in a single place.
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Increased cash flow control:
Being linked to just one account makes it easier to pay expenses and analyse data, which means time savings for employees and clarity about the resources available in the till. In addition to facilitating control and optimising cash flow, the corporate credit card ensures that the company's expenses fall due on a scheduled date.
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Better financial planning:
O corporate credit card makes it possible to manage where investments are going in the various areas of the business with greater precision. In addition to improved operability, access to historical data also improves significantly in terms of clarity and reliability, which makes forecasting easier.
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Flexibility in payment methods:
Along with the credit function, most corporate cards also offer a debit function. In this way, you can use it in the way that brings the most benefits to your company, such as deciding which expenses will be paid in cash and which can be paid in instalments. Furthermore, corporate cards are not limited to credit and debit functions. They can be used for fleet payments or bonuses, for example.
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Characterisation of expenses:
The recording of expenses paid for corporate credit card also increases legal certainty for the company. This is because it is not possible to claim that food expenses paid while travelling for work, for example, should be incorporated as salary.
While in the world of credit card acceptance the REDUNIQ offers a Contactless TPA that maximises earnings and minimises expenses, the Unibanco does the same, but on the business credit card side.
Take, for example Unibanco Business Classic credit card which helps companies to reduce administrative costs, separate personal and professional expenses and obtain interest-free loans of 20 to 50 days comfortably and securely.
In addition to these advantages, the Business Classic comes with Contactless technology integrated travel insurance, theft protection and access to the Company Management Portal where, among other options, companies can control the number and limits of use of each card, control the consolidated expenses of the company and each employee, detect irregular situations in real time, consult the most used sectors of activity and suppliers and request changes to the usage limit.
As part of its policy of digitalising customer services, the Unibanco allows companies to sign up for this programme. online credit cardThis reduces the inconvenience of travelling to a physical counter and the need for reams of paper.
