Credit Card Sales in Small Businesses

In Costa Rica, 36% of grocery stores and retail outlets have card payment systems, and on average they sell 27% more than those that do not have the service.

Thursday, August 2, 2018

The data, which was collected between April and July of this year and is part of a study conducted by Fundes, shows that 44% of these types of businesses have bank accounts and 83% of establishments have an internet connection.

In relation to the trend shown in the study, Carlos Melegatti, director of the payment systems division at the Central Bank of Costa Rica (BCCR), explained to Nacion.com that " ... the data reflects the challenge facing the country on the issue of eliminating cash."

See also "Hardware Stores: Business in Central America"

Melegatti added that " ... 'It is very likely that for some of these businesses a dataphone ends up being expensive because of the commissions, the cost of managing the POS (point of sale terminal) and it could also be the culture, because in very remote places, people are not bancarised, so what is the point in investing if the clients are going to come to you with cash? "

See also "Automotive workshops: Where are they located?"

Regarding the opportunities that financial entities have to provide coverage to retail sales businesses, Ximena Lacayo from Bac Credomatic said that " ...'For national companies, trying to get to this type of business sometimes becomes a bit complicated and we need to know more about that market, especially trying to reach as many businesses as possible, know what their needs are and which ones we can cover'.

Do you need to know where points of sale, such as grocery stores and mini-supermarkets, are located in Costa Rica and other countries in the region?

CentralAmericaData uses a geolocation system to identify commercial establishments throughout Central America. The tool allows points of sale to be identified and the geographical areas of influence for each of the locations to be characterized.  

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