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A Look back at 2020

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A Look back at 2020

Last year marked a series of exceptional events. For YouTransactor, it was a year of innovation, agility and great teamwork.

Covid 19 has impacted worldwide commerce creating a climate of uncertainty with little business visibility for merchants. The global nature of the pandemic made it difficult to reach our travel destinations as well as hindered in the logistics to conduct trade. But it also helped us connect more with our close ones and motivated us to adopt new ways of working.

For YouTransactor, 2020 was a unique year as well, marked by the launch of our latest product – the uCube Touch. The revolutionary design and features of the uCube Touch allow merchants to accept all modes of payment securely. Its small size and light weight make it the ideal payment terminal to be used in-store or in mobility. uCube Touch is set apart by its state-of-the-art technology and high-performance at an affordable price.

Additionally, our teams also mobilized themselves quickly to adapt the production according to the customer demand, in order to meet all requirements of our clients, while also respecting the health and wellbeing of our employees. The same agility and resilience also applied to the entire supply chain of the components.

When the world came to a standstill, the entire payment industry, like our innovation kept on going. In collaboration with our partners, YouTransactor continued working on new projects and a roadmap that would be rolled out over the coming months.

Stay tuned…

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Case Study- Serving Star Fintech Players with White-Label Payment Solutions

Case Study- Serving Star Fintech Players with White-Label Payment Solutions

Turn your checkout process into a unique customer experience

In 2020 Covid 19 incentivized merchants to change their focus toward the implementation of e-commerce, and click & collect strategies. But sanitary measures also impacted the customer journey in-store as the demand for cashless and mostly contactless payment methods proliferated. The shift in customer habits has been quite rapid but the need to offer user-centric and contactless payment solutions is expected to prevail.

In parallel, a transformation was already in progress among micro-entrepreneurs, such as taxi drivers, delivery personnel, street vendors, etc. to accept card payments in mobility while providing their clients with the option to pay by the latest popular methods (Apple Pay, Alipay etc). Consequently, a few payment facilitators emerged in the past few years and have been serving this unexplored segment of customers successfully by providing highly competitive and attractive offers, not only in the terms of affordability but also ease of installation and more importantly modern mobile POS design and features.

The renewed demand for seamless checkout solutions presents a unique opportunity for the fast-growing neo banks, acquirers and payment gateway providers to extend their existing business service portfolio and capitalize on it.

In addition to the merchants who are now migrating to a new cashless economy, SMEs represent a booming and captivating market segment for innovative companies who want to disrupt the way we accept payments. Here we present YouTransactor’s key takeaways from our experience supporting leading European and Latin American Fintechs in their upcoming mobile POS launches.

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Serving Brazilian Customers

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Serving Brazilian Customers

In the last few years, Brazil has been moving fast towards digitization in payment transactions. With the latest development being PIX instant payments, there are many mobile payment options for the Brazilian customer, such as Mercado Pago, iFood, Apple Pay etc. along with the traditional credit and debit cards. This is reflected in a tremendous +141% annual growth in mobile payment terminals deployments in entire Latin America since 2015, to reach 10.1 million shipments in 2019, led by a continuous demand for mPOS in Brazil.[1] Today Brazil has over 30 million SMEs and micro-entrepreneurs with new businesses being founded each day. This will certainly keep fueling the growth of the mPOS market further.

Team YouTransactor has been a part of this journey towards cashless and seamless transactions, by providing competitive and future-proof mPOS facilitating the acceptance of all modes of payments with just one device. Our white-label payment terminals are designed to perform payments via contact, NFC or QR code, thus addressing the latest trends and customer demands. Additionally, the terminals are certified by EMV and PCI to ensure the highest security in transactions. Our local customers include Payment facilitators, Brazilian acquirers and Fintechs aiming at serving their Merchant base.

Brazil represents a big geographic region, which makes it really important to have a local production and services footprint to address logistics and supply chain complexity. Our large-scale manufacturing site in Manaus functions with great agility and scalability enabling us to achieve unrivalled time-to-market. A local team of 30 handles new mPOS deliveries while helping our customers with all their after-sale support requirements of maintenance and refurbishment with extreme efficiency. The result: with 2 million maquininhas already in the field, YouTransactor currently provides 100,000 terminals per month.

With its unique design, exceptional performance, agile manufacturing process, and market adaptability, our payment terminals have established YouTransactor as the leader of Brazil’s mPOS market consistently for the past 3 years.

[1] Results of study done by Flagship Advisory Partners & Nilson Reprot.

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Embracing PIX Payments- The Latest QR Payments Standard in Brazil

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Embracing PIX Payments- The Latest QR Payments Standard in Brazil

In 2019, Brazil had the 4th highest number of smartphone users worldwide and doubled in the volume of mobile-commerce within a span of just 2 years, and with that, consumers now expect a simpler and smoother checkout process while shopping, be it online or offline. Keeping that in mind, Facebook, with the support of Cielo, Visa and Mastercard, launched WhatsApp Pay in mid-2020. But it was banned by the Central Bank of Brazil within a week of its launch since not all banks were included in the ecosystem and the processing fees incurred by businesses were very high.

Consequently, to address this growing demand, the Central Bank of Brazil itself rolled out a consolidated instant payment system for making money transfers. This system provides interoperability between all E-Wallets that use QR codes, thus making them compatible with each other and providing a better user experience. The PIX payment system was developed by considering a myriad of use cases, such as fully online payments, bill payments by scanning QR code, peer to peer transfer, in-store payments, mobile commerce, etc.

PIX facilitates transactions between different institutions without the need for any intermediaries, such as card schemes, acquirers or issuers, while transferring funds to the final beneficiary in real-time. As a result, the end-users and even businesses incur lower transaction costs, further encouraging Brazilians to opt for digital payments. Another objective of PIX payments is the financial inclusion of unbanked citizens, which even today represents about a quarter of the country’s population. PIX does not require you to have a bank account to carry out fund transfers, thus promoting migration to digital money.

As consumers still have a strong inclination towards in-store shopping, and many Gen-Z shoppers are following the trend of “Research Online Shop Offline”, merchants now must equip themselves to accept QR based payments, ensuring a truly omnichannel approach. 

Countries such as China, with its world-renowned WeChat Pay that implements dynamic QR-based payments, and India, with its recently launched BHIM that implements static QR for instant bank transfers or GPay by Google, already have a high volume of transactions performed via QR code. While Europe is still lagging behind, the European Council in the European Retail Payment Strategy (RPS) report hinted towards its intention to develop pan-European standards for QR codes. And very recently, Australia announced a launch of a national QR code payment scheme. It is now clear that more and more countries are investing in QR based instant payments. Hence the leading fintech companies and payment service providers have also begun to include this feature in their checkout solutions. With the full-screen display of YouTransactor’s latest mPOS terminal- uCube Touch, we want merchants to have one device that can accept all modes of payments, including QR-based payments.

 

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White Paper- What’s next for Proximity Payments

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White Paper- What’s next for Proximity Payments

In recent years, much attention has been paid to the apparently relentless migration of consumers to online, mobile and digital sales channels. Over the same period, there’s been rather less focus on the steady and sustained growth of cashless proximity payments – mobile and card-enabled electronic transactions that are made in person. However, the unwelcome arrival of Covid-19 is rapidly accelerating what was already a profound shift in consumer behaviour. In the process, it’s putting a fresh spotlight on both the immediate and long-term consequences of an increasingly cash-free world.

For all stakeholders in the payment ecosystem, the surging popularity of cashless proximity payments merits careful consideration. New challenges and opportunities are emerging fast. Primarily, that’s because the current uptick is not simply a matter of more contactless transactions being handled by the existing POS infrastructure. In reality, a much bigger story is unfolding. Proximity payments are being revolutionized by an explosion in new use cases, with an ever-more diverse array of enterprises and organizations, most notably SMEs, adopting customer-friendly solutions. The range of transaction values undertaken via electronic proximity payments is also expanding quickly. Active engagement by governments, regulators and other influential players is further stimulating the switch to cashless.

Innovative new technologies are also playing a central role. Most notably, this has seen an inexorable rise in the adoption of mobile POS (mPOS) to both complement and replace legacy fixed terminals. Indeed, such has been the pace and scale of this development, it is more accurate to describe the new wave of compact and portable products as not simply mPOS, but NextGen. As well as offering a wealth of choice in terms of product designs, features and costs, the market for Next-Gen terminals is also characterized by a wide array of distributors. These include both long established players and disruptors such as Payment facilitators and neobanks. What’s more, the emergence of SoftPOS, the smartphone-based payment acceptance technology, shows that the momentum for change is only set to accelerate.

 

This white paper looks at the deep-rooted trends shaping proximity payments, the impact of the pandemic, and the likely future path of this highly dynamic business ecosystem.

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