- Increase sales and the customers they serve;
- Increase security for their customers as they do not need to carry as much cash on them, reducing the chances of theft;
- Improve customer experience offering them a variety of payment options.
- Caterina Fuscaldo, a local designer from Costa Rica, founded her own business by selling glass design items, which she creates from the convenience of her own home. Caterina decided to open her own business in order to be able to spend more time with her family. She showcases her work at numerous fairs in Costa Rica, where many of her clients are tourists and do not carry cash and the need to accept cards became increasingly important to grow her business. Today 70% of her sales are paid with credit cards.
- Ana Leo is an independent bikini designer from Sao Paulo who works from her home and decided to start accepting payments through her mobile phone. With the advent of mobile, on-the-go acceptance devices are turning every mobile phone user into a microbusiness owner. Accepting mobile payments has allowed Ana the convenience of not even having to carry a Point of Sale, as all she needs in order to process a transaction is to have cell phone service. Ana has also noticed that when making electronic payments, her customers usually end up spending more.
- Carlos Mirque is a small business owner from Colombia who designs and sells accessories made with “molas”, a type of textile art made by the Kuna tribe, in the Usaquen flea market in Bogota. When Carlos first started selling “mola” fashion at the craft fair, he only accepted cash, and was forced to turn down numerous sales. As a result, he chose to request a Point of Sale terminal to begin accepting electronic payments. When he started to accept credit and debit cards, he was able to increase his sales by 50%. Now, his “molas” stand is not only recognized for its high-quality handmade shoes, bags and accessories, but also for being a pioneer in electronic payment solutions at the craft fair.
About MasterCardMasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews , join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.