What is Pago Efectivo?
Pago Efectivo is a payment system that originated in Peru. Developed by El Comercio Group, the system has won the trust of many people. It’s a popular alternative payment solution and a perfect choice for users who have credit/debit cards or wish to keep the banking details private.
Even though local people feel alarmed when shopping online, the e-commerce market is growing steadily. More and more people start using the Internet to order goods and services. Merchants who wish to expand their businesses to this region should consider offering cash-based payment options at the checkout. That’s where Pago Efectivo comes in. It’s a simple, fast, and secure payment method. Moreover, it offers clients two options on how to pay the bill: they may do it at home, using a unique CIP code, or visit one of 40000+ affiliated stores to finish the payment.
What are the advantages of Pago Efectivo?
This payment system allows making payments in a few simple steps. Moreover, it delivers numerous benefits to both merchants and their clients. Business owners are sure to discover the following advantages:
- Real-time confirmation;
Both shoppers and merchants receive confirmation messages almost immediately.
- Secure transactions with 0 chargebacks;
A business that accepts this payment method is sure to discover a risk-free solution as well as no chargebacks.
- A possibility to sell goods/services in PEN (Peruvian Sol) and withdraw in USD.
This advantage sounds very appealing because a merchant can withdraw earnings in ISD anywhere in the world.
Aside from such major benefits, the company offers simple and transparent services. It’s one of the reasons that make Peruvian people trust the brand and use the payment system.
How to use Pago Efectivo?
The payment procedure is straightforward:
- Clients choose the items in the online store;
- Then they go to checkout to review the order and move to payment;
- Finally, they select Pago Efectivo as a payment method.
Immediately after this, the payment system generates a payment code called CIP Code. A client receives it via email (or mobile app) and uses it to pay through banking accounts or affiliate stores. Once the payment is complete, the payment center notifies the Pago Efectivo system. In turn, it immediately notifies the seller that the transaction was successful.
It’s important to take into account that the codes customers receive have an expiration date. If a client fails to pay on time, the code’s status will change to Expired. The merchant has a right to cancel or delete the CIP. Consequently, a client won’t be able to pay for the order. In such situations, the code’s status will change to Deleted.
What merchants can benefit from Pago Efectivo?
All merchants who sell goods and services worldwide are sure to benefit from adding this payment system to the list of payment methods. Surely, it’s an opportunity to expand the business to Peru.
Besides, Peruvian sellers who wish to find their place in the e-commerce market must add this payment system, too. Every other online user fears online scams and is not willing to share banking details online. Pago Efectivo, however, becomes a secure alternative that allows shopping online without risks.