Boleto is the best method to access the entire Brazilian population. Without boleto, cross-border business can only reach about 37% of Brazilians who own an international credit card. Hence, boleto is a significant payment alternative.
General benefits of offering boleto include:
- Access to 100% of the Brazilian population
- Minimal Fraud Risk
- Confirmation usually within 1-2 business days
- No chargeback rate
- Faster money settlement in comparison to credit cards
Does offering boleto cannibalize other payment methods?
Boleto is compatible with other payment methods such as credit card or Paypal. Once accepting boleto payments, international merchants generally experience an overall sales increase in Brazil—across all payment methods.
An EBANX partner in the retail industry experienced over the span of 9 months, an increase in sales of over 75% for boleto and credit card transactions, amounting to more than 130M USD.
Are there any additional fees for offering boleto?
Boleto processing expenses depends on whether your business establishes a branch in Brazil or partners with an alternative payment processor. Overall boleto is a cost friendly payment solution. Since boleto is not a card related payment type there is no chargeback rate; furthermore, Brazilian customers do not have to pay extra fees when they choose to pay in boleto.
For many cross-border merchants, offering boleto through a payment processor is the most convenient and efficient option. EBANX is an alternative payments leader for cross-border boleto transactions, processing over 1M EBANX Boleto transactions a month.