What is Pago Fácil?
Pago Fácil is a popular payment method in Argentina available in more than 3,600 outlets across the country. Consumers can use it to make purchases or pay bills and taxes. Payments through Pago Fácil are offline payments paid by cash or another preferred method at branch offices or associated stores.
Each transaction includes a unique barcode for security and speedy transactions. Customers simply print an invoice, and then pay using cash at one of the Pago Fácil locations. Customers cannot use this payment option for money transfers or making payments in certain industries – for example, gambling. Customers can get a refund within 24 hours of making the payment if they change their minds.
How does Pago Fácil work?
When consumers decide to pay using Pago Facil, they receive a voucher that includes a barcode. They can use this voucher at any branch store of Pago Fácil, where they pay for their purchase using cash or any other preferred in-store payment method. Pago Fácil completes the service, and the transaction is settled. The e-commerce business can then fulfill the order.
Why do merchants and consumers use Pago Fácil?
Argentina has a large consumer market in Latin America, with a population of around 43.4 million people. Argentinian consumers rely heavily on local credit cards and other prepaid options, including Pago Fácil. Pago Fácil is an alternative payment method that is convenient for customers who do not have a credit card or bank account, or simply prefer to pay in cash.
Adding important local payment methods like Pago Fácil helps merchants to grow their revenues in Argentina and other Latin American markets. First, the use of this payment method enables merchants to address the needs of customers who don’t have bank accounts or credit cards – which increases digital and financial inclusion, and also helps merchants to reach a broader share of the market.
Another important advantage of this payment method is that it doesn’t come with any chargeback risk. While the customer can cancel the payment, they can do that only on the same day – and since the order has not yet been paid, there is no need to issue a refund. After 24 hours, cancellation is no longer possible.
How can merchants start accepting Pago Fácil?
Providing Pago Fácil as a payment method option helps merchants offer their customers more ways to pay. To start offering Pago Fácil as a standalone payment method option in Argentina, merchants could sign up in the system by entering information about their company and submitting a business application along with several documents. Next, they wait for the approval and eventually sign a contract with Pago Fácil.
But there’s also an easier way to achieve the same result. By teaming up with a payment gateway that offers Pago Fácil as a payment method option in Argentina, merchants can gain access to Pago Fácil as well as other local and alternative payment methods that are preferred by customers.
PayU’s global payment platform lets merchants accept hundreds of payments methods around the world via a single integration – ensuring that merchants are able to offer the most important payment methods in any market through one payment provider.