eCommerce Merchants Need Cash Acceptance beyond Oxxo Payments at More Convenient Locations
Only 37 percent of Mexicans have a bank account. (Center for Global Development et al.) With ecommerce surging in popularity, partially due to the COVID-19 pandemic, the ability to use cash to pay for digital transactions is an important lifeline for many Mexican consumers. Oxxo Mexico Cash Payments remain a popular way for people without bank accounts to buy goods and settle bills. But the Oxxo payment method may not be right for everyone.
What Are Oxxo Payments?
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Oxxo is a Mexican convenience store chain that issues and accepts cash voucher payments for digital transactions. Online shoppers can make purchases from merchants that accept Oxxo payments, then complete the purchase by printing out an Oxxo voucher and taking it to one of Oxxo’s physical locations to complete the transaction using cash.
Alternatives to Oxxo for Accepting Cash Payments for Digital Transactions in Mexico
There are other ways to accept cash for digital transactions in Mexico. For businesses looking to compete on convenience, Rapyd’s network of over 150,000 cash-over-the-counter locations including 7-11 and Walmart, offers an alternative or complement to the Oxxo Mexico Payment Method.
Whether at a Walmart, 7-Eleven, Circle K, Extra, or Farmacias Benavides, shoppers can complete cash purchases for digital orders, by bringing printed vouchers or scanning QR codes. For merchants, this means your customers can now pay for online purchases in the same place they run regular errands in, whether they are at a drugstore, convenience store, or large retail department store.
At a time when people everywhere are being asked to limit their movement, offering more cash acceptance locations is a win-win for consumers and merchants alike.
Rapyd’s cash acceptance network is part of Rapyd’s all-in-one solution for payments in Mexico, which also enables merchants to accept popular payment methods beyond just Oxxo payments, like local and international cards and bank transfers through a single integration.