Smart payment terminals, purchasing installments and transforming mobile devices into TPA are innovations that are transforming Reduniq’s business in Portugal. According to the marketing director of parent company Unicre, Luís Gama, the solutions benefit both customers who accept payments and consumers, who now have greater flexibility when purchasing.
“The payment acceptance business thrives on this connectivity and the fact that businesses are increasingly digital,” the person responsible told Dinheiro Vivo. “Today, hyperconnectivity is at the center of our strategy when it comes to accepting payments on practically any object”, he indicated.
The business transformation involves three areas with recent launches: Reduniq Soft, which allows devices to be transformed into payment terminals; Reduniq Smart, TPA with Android operating system that includes analytics and management solutions; and Parcela Já, a Portuguese version of the global trend known as BNPL (buy now, pay later), or installment payments for purchases.
The person responsible explained that a device can be transformed into a terminal through a software application, hence the name Soft POS (point of sale). “Payment solutions are, at the limit, on any smartphone or they can be on a machine, on an IoT.” With security certification, devices can accept payments, almost always ‘contactless’ by touching a card, smartphone or watch. Luís Gama said that this allows companies to simplify their operation and never lose a sale, in addition to saving costs and reducing the volume of electronic waste, because they no longer need a separate physical terminal.
“These payment terminals are always connected”, highlighted Luís Gama. “Previously, we had physical terminals attached to a network cable, to a power supply, and these didn’t,” he continued. “We are talking about equipment with a Vodafone SIM, which allows them to always be connected, whether via mobile network or Wi-Fi.”
The Parcela Já service is linked to these new formats, because they have the ability to connect to algorithms that validate the customer’s risk. The merchant receives the full amount and it is Unicre that charges the monthly installments. “This is possible because of this reality of hyperconnectivity, which allows me to have a payment solution, a risk analysis solution in the same terminal and the ability to connect to multiple sources to validate the customer’s risk in microseconds and grant this operation.”
Gama considered the solution to be advantageous for everyone involved. The consumer buys something more expensive without interest, the merchant makes a larger sale and Reduniq obtains a higher commission. “This new world allows us to provide a value-added solution for everyone.”
Another aspect that has changed Unicre’s operations is the adoption of cloud and Artificial Intelligence solutions. The company started with risk analysis using predictive AI and is now using transaction data to extract information. The idea is that customers can make better decisions based on this knowledge, such as where to open a new restaurant or branch.
“Our business is moving from very simple solutions, a payment terminal, to solutions with a lot of added value, such as extracting insights from data, in addition to integrating payment solutions across multiple media and working with partners”, highlighted the person in charge. The strategy is to have solutions that are “more connected, more integrated and as transparent as possible.”