Evertec’s digital payment platform, Placetopay, has arrived in Puerto Rico. This allows Evertec to expand its offering to help businesses manage electronic transactions in a secure, and agile manner with a service that is already in place in 8 countries and is known for its ability to receive payments through various channels and easily enable different payment methods while using the highest security standards.
Given the evolution of commerce and the new customer needs driven by the pandemic, e-commerce has enjoyed a rapid adoption worldwide. However, its adoption among businesses in Puerto Rico has been slower in comparison, which means they have missed out on the benefits offered by this market trend. In fact, this was demonstrated by the “Study 2021: e-Commerce in Puerto Rico” published in June 2021 by the Puerto Rico Chamber of Commerce. This study showed that local companies on the island were not getting the most out of the digital environment, since only 41% of the 200 companies surveyed stated that they used the internet to sell their products or services. This highlights an existing opportunity for local businesses, especially small and medium businesses (SMBs), since e-commerce helps increase the business reach and sales of their products or services by offering new payment methods and channels for interaction with their consumers.
Evertec’s Chief Product and Innovation Officer, Guillermo Rospigliosi, stated ed, “there are multiple benefits offered by e-commerce and the acceptance of digital payments. As promoters of a making our offering accessible to businesses of all sizes, we have brought to the island a platform that goes beyond e-commerce, featuring multichannel capabilities, the ability to pay with ATH®, and robust security functionality. In addition to the web, now Placetopay allows users to pay businesses through social media, WhatsApp payment links, text messages, and QR codes, thus expanding the business’s offering.” Placetopay is a proven platform that provides businesses digital capabilities in countries like Colombia, Chile, Costa Rica, and now Puerto Rico. Such is the effectiveness of this platform, that is processed 100 million transactions by 2021.
But Evertec believes that it is not only essential to offer a convenient digital platform but also to provide a secure solution that is reliable for both consumers and business owners. “In terms of end users, Evertec’s offer focuses on processes and tools that seek to increase the approval rate and mitigate the risk of fraud by providing an optimal digital experience to consumers. For businesses, these security services include PCI-DSS certification, 3D-Secure authentication protocol, and smart transaction monitoring modules for fraud prevention,” Rospigliosi assured.
In addition to the benefits mentioned, the company highlighted the integration of this channel in transaction processing for credit cards, debit cards, checking accounts, ATH® debit card, and others, based on each consumer’s needs. It was also mentioned that transaction processing for ATH Móvil and ACH will be available in the future.
Innovating in Partnership with Local Businesses
Meanwhile, Mike Vizcarrondo, Evertec’s Chief Commercial Officer for Puerto Rico and the Caribbean, stated that “Evertec has been working closely and in partnership with different businesses on the island, offering a robust digital payment platform that is more affordable, manages multi-currency transactions, and is proven in Latin America. We have helped democratize electronic commerce by activating multiple payment methods, even for people that do not have any banking products or accounts.” He also reported that Placetopay can be used by businesses, as well as by entities such as non-profit organizations, schools, hospitals, and the government sector, among others.
According to Vizcarrondo, there are several commercial businesses on the island that have participated in Placetopay’s pilot phase, including restaurants, retail establishments, insurance companies, and professional services, among others. Outumuro Automotive Group, which specializes in auto services and products, has benefitted from the advantages offered by the Placetopay payment link. “As part of the retail sector, we have implemented Placetopay at our seven dealerships, which we group under the names Tocars Toyota and Kia, Yokomuro Nissan and Kia, Hyundai de Bayamón, and Hyundai de Caguas. This digital platform has allowed us to offer all our customers a simple option to easily make their payments through a link sent via email or text message, thus streamlining the entire billing and collection process at our dealerships, in the areas of sales, parts, and services,” said Pedro Rodríguez, Marketing Director of Outumuro Group.
On the other hand, Totto Puerto Rico (Felino Corp.), which specializes in the sale and distribution of bags, clothing, and accessories, has also enjoyed the advantages offered by the Placetopay platform. “Looking for better payment alternatives for our clients has been the priority for Totto, which is why we have implemented Placetopay in our e-commerce store, pr.totto.com. This platform has allowed us to expand the payment methods we offer to our customers who buy in Puerto Rico and the United States through our website, making the entire purchase process easier. This has also allowed us to boost our sales through our virtual store. given the alternatives that were added with this platform,” said Henry Bello, e-commerce director of Totto Puerto Rico.
“As a company, we are always on the lookout for new opportunities to improve our customer experience. This has helped our restaurants become increasingly more modern and technological over the last decade, in line with the needs of our consumers. With Evertec’s Placetopay technology solution, we have been able to enhance our digital platforms and position our ‘Order & Pick Up’ service as one of the most important communication channels between our restaurants and our customers. One month after launching the platform, we managed to implement it in our 93 McDonald’s restaurants in Puerto Rico, offering an accessible, streamlined, and personalized experience for each customer,” said Marisol Vega, Managing Director of Arcos Dorados Puerto Rico & USVI.