How to choose your partner for Local Payment Solutions

Is having a local partner to process payments a good strategy for your company? Yes – but you need to know how to choose

One clear result of Digital Transformation is the proliferation of online services, ranging from remote communication and collaboration solutions to payment processing. What we see today, therefore, is a scenario with a wide variety of options and prices for the most diverse customer profiles. Variety, however, is not synonymous with easy choices.

With the large supply of services on the market, a potential customer who needs to select a provider to manage their payment flow may have the impression that all the services offered are very similar, providing comparable benefits between them. This, however, is not true.

When it comes to payment solutions, the complexity and bureaucracy of financial systems must be considered, especially when operating outside your own country. Understanding the market, laws, regulations and consumer behavior, as well as having a complete and unique solution, is a must that not all companies have. 

Although the services offered may look similar on the screen, in practice the reality can be very different. So what is necessary to make a conscious and well-informed choice? How to choose the company that can really align with your business objectives? A good way to start is to look for a provider that meets the following points:

Local payment and processing

Conducting transactions in local currency and within the country’s financial system helps to simplify operations, reduce costs, and avoid exchange rate fluctuations, so it is worth looking for a company that operates in the country where the sales will be made. Another benefit is that with a partner company that has a local presence, there is no need to open a local entity in the country, which reduces the tax burden and the managerial complexity of the business.

One-stop-shop for payments

Instead of hiring several companies to perform services separately, which brings more complexity and more chances of failures in the integration of the service flow, opt for a supplier that already performs everything you need with quality.  Processing, collecting, reconciling, reporting, settling funds, whether international or domestic: these activities are fundamental in the payment process, and can be performed by a single qualified partner, bringing agility and consistency to your business.

Transparency

Count on a partner that is transparent throughout the operation, especially regarding fees, amounts, taxes, and other important expenses to make your management more reliable and solid. In addition, check the partner’s financial resilience, ensuring the necessary security and focus to deal with adversities in this regard.

Local support team

Legal, tax, and several other issues may arise over time, and it is interesting that your partner counts on the support of local experts, who know the dynamics of your market well, to answer them efficiently, without interfering in the performance of your sales. More than that, you should look for a customer-centric approach focused on the best performance, and that includes agile support 24/7 in different languages, to make sure all your clients’ necessities are taken care of in the best way possible.   

Specialized APIs 

The technology part is also crucial when evaluating your supplier options, so choose those that offer checkout and refund APIs that allow fast and secure integrations between systems, a point of high importance when dealing with financial flows.

Risk management and compliance

Compliance rules change in each country and according to the segment, so it is essential that your supplier understands the rules and business requirements of your market. In addition, having robust tools for risk management is a differential that protects your company against fraud and other possible problems.

Get to know BoaCompra

Relying on the solidity and reliability of PagSeguro, BoaCompra brings hosted checkout tools and ecommerce plugins, all to increase your sales in the country. Here, you have local support teams that understand your needs and challenges, bringing agile and accurate solutions to your business 24 hours a day, in 4 languages, Portuguese, Spanish, English and Turkish. Sell in Latin America and receive all over the world, whether in Dollars, Euros or Reais. Click below to talk to our specialists right now and find out everything that BoaCompra can do to boost your sales:

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