BuyPayment is a standout mexican startup which offers an innovative solution to carry out payments in cash in e-commerce. In a country where access to credit cards is limited, this initiative opens new doors for consumers, allowing them to make Internet shopping without the need for a debit or credit card.
This platform allows anyone, even those without access to traditional banking services, to make online purchases by issuing a payment receipt. This receipt is generated electronically and can be paid at one of the more than 130,000 affiliated physical stores such as OXXO, Walmart, 7-Eleven, Coppel, Elektra and many others. Once payment is made, the merchant receives an automatic confirmation and proceeds with the delivery of the requested product or service.
How does ComproPago work?
The ComproPago process is simple and designed to be accessible even to those unfamiliar with modern e-commerce. The steps are as follows:
- The customer selects ComproPago as a payment method when making an online purchase.
- A ticket is generated detailing the purchase and the amount to be paid.
- The customer receives the ticket via SMS or email.
- The ticket is paid in cash at an affiliated store.
- The ComproPago system automatically notifies the merchant that the transaction has been completed, allowing the product or service to be sent to the customer quickly.
This method not only eliminates the need for a bank card, but also offers a high level of security. for consumers by reducing the risk of sharing their financial data online.
An ally for e-commerce in Mexico
In Mexico, more than 50% of transactions are still made in cash, and a large part of the population does not have traditional banking services. This context makes ComproPago a key tool for the growth of e-commerce in the country. According to the Bank of Mexico, more than 60% of Mexicans do not have access to credit cards, which has historically been one of the biggest obstacles to online shopping.
BuyPayment fills this gap and allows merchants to expand their customer base, reaching a market that was previously inaccessible. Additionally, for consumers, the platform offers the possibility of participating in the world of eCommerce safely and without the risks associated with credit or banking.
The impact on the development of digital commerce
In recent years, Mexico has experienced significant growth in the e-commerce sector. According to the Mexican Online Sales Association (AMVO), this market has grown by an average of 30% annually. However, barriers related to payment methods have limited its potential.
Platforms like ComproPago not only remove these barriers, but also foster financial inclusion. Moreover, ComproPago's business model relies on the massive network of affiliated stores, which ensures national coverage and convenient access for customers.
Why is ComproPago different from other payment methods?
There are multiple alternative payment methods in Mexico, such as debit and credit cards, digital wallets, and electronic transfers. However, ComproPago stands out for the following reasons:
- Accessibility: No bank account or credit card is required to use this service, making it an ideal option for unbanked segments.
- Convenience: With over 130,000 affiliated payment locations, customers can choose the closest or most convenient location to make their payment.
- Safety: Consumers do not have to share financial information online, which reduces the risk of fraud.
On the other hand, methods such as cash on delivery, although also cash-based, present significant disadvantages, such as higher operating costs and risks associated with product rejection by the customer.
What technologies support ComproPago?
The ComproPago system is based on REST technology, which facilitates its integration with eCommerce and digital applications. By including APIs and Webhooks, developers can implement this solution quickly and easily, ensuring a seamless and uninterrupted user experience during the purchasing process.
In addition, the payment button offered by ComproPago is generated through a simple code that merchants can copy and paste into their platforms. This eliminates the need for complicated developments and significantly speeds up implementation time.
Future perspectives
At the current rate of adoption, ComproPago has the potential to expand beyond Mexico to other Latin American countries where similar banking problems prevail. In this sense, its scalable model and focus on financial inclusion position this startup as a key player in the digital payments market in the region.
With constant innovations and solid technological support, ComproPago is helping to close the digital divide in Mexico and drive economic development through more accessible and universal e-commerce.
ComproPago is not only a solution for the Mexican market, but an example of how startups can transform entire industries by leveraging emerging technologies to solve everyday problems. This system not only stimulates e-commerce, but also encourages greater participation in the digital economy, creating opportunities for both consumers and merchants.