What is Farmacias del Ahorro, how does it work, and how can merchants integrate this payment method into their e-commerce store?
With its population of 128.9 million, Mexico is one of the biggest emerging e-commerce markets for online merchants. However, a large part of Mexico’s population is unbanked, alienating many from e-commerce offerings.
The good news: merchants can unlock these customer segments in Mexico and other Latin American countries by offering alternative payment methods such as Farmacias del Ahorro that allow consumers to pay for online orders with cash.
How does it work? Keep reading to learn more.
Farmacias del Ahorro is a cash-based online payment method in Mexico. Administered through a popular network of Mexico pharmacies, it allows online shoppers to check out by selecting Farmacias del Ahorro as the payment method.
The shopper then receives an instant voucher with the transaction amount and specific payment reference, after which they can pay the voucher in cash at one of the Farmacias del Ahorro stores or online.
Once the payment is matched to the initial checkout, the merchant gets paid and can ship products or provide services.
With a population of nearly 130 million, Mexico is the third-largest country in North America and boasts a rapidly growing e-commerce landscape. This makes Mexico an attractive location for online merchants – but in order to reach Mexican customers, e-commerce businesses must be prepared to offer sufficient local payment method options to appeal to the market.
With many Mexicans not having access to credit or debit cards or banking products, Farmacias del Ahorro allows merchants to tap into this substantial segment of online buyers. By implementing Farmacias del Ahorro, merchants give customers access to online shopping opportunities through the capability to make purchases using a payment method they know and trust.
This opens the door to reaching a larger audience, engaging new customer segments, and making the checkout process as smooth and comfortable as possible.
The best way for merchants to offer Farmacias del Ahorro and other alternative payment methods in Mexico is to work with a payment gateway that supports this payment method. By teaming up with the right provider, merchants can offer add Farmacias del Ahorro with other payment methods at checkout and gain a stronger foothold among customers in Mexico.
The best way to offer Farmacias del Ahorro at checkout is to work with a payment gateway that supports this online payment method. By teaming up with the right provider, merchants can quickly add Farmacias del Ahorro as a payment method option and gain a stronger foothold among customers in Mexico.
Farmacias del Ahorro lets online shoppers check out by selecting Farmacias del Ahorro as the payment method. The solution creates an instant voucher with the transaction amount and specific payment reference. The shopper can then pay the voucher in cash in one of the Farmacias del Ahorro stores or online.
Farmacias del Ahorro is an online payment method used in Mexico.
Farmacias del Ahorro creates an instant voucher with the transaction amount and reference number. Shoppers can pay for it in cash at one of the stores or online. The funds appear on the merchant’s account quickly.
Farmacias del Ahorro allows merchants to tap into a substantial segment of online buyers in Mexico who don’t have credit or debit cards. By implementing Farmacias del Ahorro, merchants can let customers pay using a method they’re familiar with and trust. This opens up the door for reaching new customer groups and making the checkout process as smooth as possible.
See how PayU helps merchants offer the most important payment methods to customers anywhere in the world.
View payment solutions