The paytech formally entered the business of in-person payment solutions by launching a POS in Chile. The goal is to double its presence in that country with its omnichannel, offering both digital and physical payments.
More actors encourage greater competition. More competition means lower prices and better deals to captivate consumers.
The maxim seems to be being fulfilled in Chile. At least from the perspective of the Ecuadorian paytech Kushki, which this week presented its POS in that South American country, simply put, a payment machine or terminal for businesses.
“Chile is one of our main markets in the region, therefore our commitment is to ensure that all commercial establishments can receive different forms of payment, anywhere and at any time,” says Rodrigo Quijada, country manager of Kushki in Chile .
“The addition of the POS product complements our omnichannel offering to be present in all payment channels that clients and consumers have,” the executive details to AméricaEconomía .
The in-person payment modality began this year in alliance with two local clients, positioning the company's own POS device, as well as in-person payment as an acquirer in businesses with their own devices.
But the firm promises more: “These POS are Android, and they have the advantage of having the technology behind Kuski, a 100% cloud technology, 100% cloud, and with the possibility that businesses can incorporate software , or inventory management. And that is also a benefit for consumers and for the company,” adds Quijada.
MARKET SHARE
Only during the first half of 2024, Kushki Chile had growth of more than 25% compared to the same period of the previous year. With the arrival of this new solution, the multichannel payments company expects to double this growth by the end of this year.
“[With this POS] we are targeting a significant market share. I would say 10% around there. But more than market share, globally Kuski has grown more than 55%.
More than setting a fee, the goal of paytech is to provide facilities for those who wish to incorporate their POS with their brands, Quijada advances.
“If you have a point of sale and, for example, we are going to consider the case that you are an electronic receipt provider and you want to transfer payments through your POS, with us you will be able to do it. So we are in that line of being a partnership to enable you to make payments,” specifies the Chilean executive.
That would be the advantage of having made your device on Android. Being able to download the application from the cloud.
“Another example: if I am a restaurant, I can add cash to my Kushky machine, I can add orders, inventory management. And I can even go to the POS to place the order for the table. That is why we emphasize that with this system we are an enabler,” emphasizes the country manager .
Quijada emphasizes that its POS will be flexible, in the sense that it will be able to connect whether it is purchased or leased.
"At first we are going to market them at market price, which is a value that has been decreasing, as well as the commissions have decreased significantly, and that is an absolute benefit for all commerce as a result of the massification of the media. payment,” adds Quijada.
This is confirmed by Jazmín Jorquera, vice president of FinteChile and one of the guests at the launch.
“Before there was an actor that completely dominated the market and now it is entertaining to try to guess which POS one is going to find. This, in essence, opens a space of competition that forces the different providers to work better on their value proposition, on their costs, on how they position themselves within the market and also how they help all the entrepreneurs who are in the market. Chilean to deliver their products,” he explains to AméricaEconomía .
MEXICO AND THE INCLUSION OF BILLPOCKET
The in-person payment solution has been available in Mexico since 2022, when Kushki acquired the company Billpocket. This experience has been relevant for its scaling and growth in that country: today it has more than 500,000 POS devices, an experience that stands out as a fundamental pillar for the multichannel business that they want to bring to Chile.
It is also part of the reason that Kushki's executive staff was present at the launch, with two founders, Sebastián Castro and Aaron Schwartzkopf, something that is related to the fact that Kushki Chile is one of the most important markets for paytech , along with Mexico .
Among the executives was also Alejandro Guizar, Senior VP of Coche Presente and Partners , who states that they will seek to enable many more players in the payments industry in Chile, with a view to accelerating their adoption of digital payments and continuing to abandon cash.
“We believe that payments have to be natural, within the business processes, that is why we want to enable the entire ecosystem,” Guizar tells AméricaEconomía .
Guizar was the creator 11 years ago of Billpocket, which became an expert in presidential POS payments and heads that vertical within Kushki.
Enthusiastically, he details that they will find that the terminal can connect with the internal tax service, in order to link the purchase with the issuance of the invoice or receipt, so that the entire payment process is integrated.
“That saves time for the entrepreneur, it also avoids mistakes, and maybe you don't even need so many people to start a business,” he adds.
What is clear is that Kushki wants there to be more players in the payments ecosystem, as well as to stop seeing them as separate from the business.
“With us, in Chile, you will stop seeing that image when you arrive at the store and see on the one hand the tablet or computer where they are keeping the record and on the other hand the terminals or POS. Now we are going to see everything together and we are going to see new products in that sense. That is what we come to enable (…) It is a platform where we are going to have partners who are going to connect with us and who are going to help this evolve much faster,” concludes the Mexican.
