Cash, Debit, Credit, Pix: what are the advantages of each for business?

Every company needs to adopt some means of payment to present to its customers. Therefore, reflecting on the advantages and disadvantages of each model is important not only for the financial health of the business, but as a competitive advantage: the more options, the better for the public.

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According to a survey by US financial firm Fiserv released in July, which heard 1.19 Brazilians of all classes 22% of them chose credit and debit cards as the preferred form of payment, and 22% the “newbie” Pix.

The others were digital wallets (11%), by barcode (9%), cash (8%), automatic debit (6%) and transfer by TED or DOC (5%). Other modalities mentioned, with 3% or less preference, were subscriptions, QD code and by cell phone approximation. In terms of security, Pix is ​​considered the most reliable (57%). Then comes the cash (57%), the barcode (30%) and the chip card in the machine (56%).

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If you are an entrepreneur, see below for a list of pros and cons of the main forms of payment in the market — Pix, cards credit and debit cards and cash — to make the best choice.

Cash in kind 313

Less and less used, but still firm and strong. The advantages of this modality for the business are the absence of transaction fees, present in the card machines, and having the value in hand at the exact moment of purchase. The problems: Unsafe to keep physically (especially in large amounts), and susceptible to counterfeit bill fraud. There are “middle ground” alternatives, such as at Zettie, which has a card machine that accounts for cash sales.

Debit and credit cards 313

They are considered one of the safest ways, since the company will have the guarantee that they will receive the amount at the time of approval of the account by the device. From then on, if there is a default, it will be between the customer and the card brand. They are also safer in terms of health, in times of covid-19: banknotes and coins tend to have more microorganisms than the cards, in addition to not being washable. The biggest disadvantage, however, is the delay in receiving: in debit, it can take up to two days, and in credit, up to 19. There are still fees in many cases: they can be withdrawn from each transaction or a fixed monthly amount can be paid.

Bank transfer: Pix, DOC and TED313

Released last year, Pix quickly fell into popular favor, with more than 140 millions of keys created until August. Its pros are the practically instantaneous receipt of the value compared to TED or DOC, which takes about an hour if it is within bank hours. A Pix only takes ten seconds to register. As a downside for medium and large companies, there are banks that charge fees per transaction. At Banco do Brasil, for example, receipt costs 0.57% of the amount, but limited to R$ 140.

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