Business

Cielo says link payments tripled over the last week

While retail market plummet in 5.4% in comparison to last month, payments through Cielo's links increased

The crisis caused by the coronavirus created a retail market plummet in 5.4% and payments through Cielo's link increased 200%. Photo: Shutterstock
  • Cielo made a partnership with Sebrae to aid small enterprises that don’t have their own ecommerce structure;
  • Coronavirus lockdown made payments through Cielo’s links increase 200% in one week .

The coronavirus outbreak is providing a boost in online sales as the physical stores are being closed and people isolate themselves at home. According to Exame, last week, Brazilian card acquirer Cielo saw its link payment system increase transactions by 200%. In link payments there’s no need for a POS to conclude a transaction, the purchase is paid by credit or debit card through a web link.

The firm offers link payments since October 2019. “The solution already existed, but the new needs increased demand. People who used to deal only over the counter had to perform a digital transformation of their business”, said Simone Cesena, Cielo’s Marketing Director interviewed by Exame.

In a partnership with Sebrae, a Brazilian institution whose aim is to foster the development of micro and small enterprises, Cielo intents to aid small and medium entrepreneurs in the digital transformation of their business. This kind of payment method helps retailers that don’t have their own e-commerce structure.

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According to Exame, the crisis caused by the coronavirus created a retail market plummet of 5.4% in comparison to February. In the sectors of durable goods (clothing, furniture, construction materials), the plunge was even bigger, 8.3%. In services, such as tourism, transportation, bars and restaurants, auto parts, the impact was greater – turnover was 25% lower than in the previous month.