Mexico's most widely used voucher payment method
Consumers pay for their online purchases in cash, and merchants have zero chance of a chargeback.
The customer journey:
OXXO invoice is a document that is emitted with a barcode and can be paid in any one of the 18,000 convenience stores located throughout the country.
For cultural reasons, Mexicans are used to paying with vouchers for their purchases, even if they do have a bank account, debit card, or credit card. This habit repeats itself in online shopping, leading customers to look for e-commerces that offer voucher payment methods. 19%* of payments processing in the online market is done by cash vouchers.
Mexico is a country with high levels of informality in the economy, making it a cash-based society. Also, international credit cards make up only 39%* of all e-commerce transactions, therefore enterprise companies that want to succeed in the region can't have only international credit cards in their payment strategy. Voucher payments play a strategic role in the region, and to get access to a potential customer base is essential to offer local payment options.
Offering a secure payment option is the top 1 main reason for Mexican consumers to buy from a website*, and OXXO is a free risk payment method giving full confidence to both: merchant and customers. A payment method free of risk of chargebacks and fraud.
Payment vouchers such as OXXO ran $5.7B USD last year, representing 18% of the payment method share in Mexico*. Accept this popular payment method and start to sell more to Mexican consumers