Payout is an innovative way of making payments for services by suppliers in the country. Learn about the opportunities to benefit your business with it.
Originally published on October 20, 2021.
Blog post updated on October 19, 2022.
Nowadays, the world is increasingly connected, digital, and dynamic, which means that the way we do business is also changing, along with society. More specifically, with service providers and consumers a click or tap away, the economy is spinning faster, so companies need to find ways to make their payouts for service providers quickly and with control. This is where disruptive payout solutions come in.
With a digitized economy and the growth of self-employed professionals in various sectors, foreign companies looking to Brazil have a vast range of options for specialized suppliers ready to perform on demand.
Thus, BoaCompra Payout Solution is an excellent option to remunerate these workers, allowing companies to pay external service providers quickly, or even implement innovative engagement campaigns for social media users.
4 trends and opportunities for payout in the Brazilian market
From app drivers to deliveries, from designers to maintenance professionals, from influencers to PRs: there is a large – and growing – world of opportunities for using skilled labor that companies can hire directly through digital.
Gathered below are some industries that are on the rise and that companies can pay through specific payout solutions without difficulty.
- Despite causing immediate and transitory changes, the pandemic has also permanently accelerated digital transformation in some areas. Digital courses and e-learning had a large increase in sales, reaching much wider audiences.
According to research published by Forbes, it was predicted even before the events of Covid-19 that the market value of online education would reach more than $300 billion by 2025. There are several platforms that offer this type of education to people, such as Udemy, Coursera, Skillshare, Udacity and Lynda.
According to the World Economic Forum, taking only the Coursera platform as an example, the number of student accesses was 21 million in 2016 and registered about 7 million new registrations per year, until it jumped to 71 million in 2020, at the outbreak of the pandemic, and another jump to 90 million in 2021.
Traditional top-tier universities are also taking this step further and adhering to digital teaching methods. Stanford and Harvard already offer some courses in engineering, mathematics, business and computer science.
Brazil occupies a strategic position, ranking as the fourth largest country with people enrolled in online courses. Also according to the WEF report, it is estimated that the reason for this increase is the possibility of accessing quality education from anywhere in the world. The Future of Jobs Report 2020 adds that the most sought after areas are technology, especially cloud computing, big data and e-commerce.
With people now being able to work from virtually anywhere, teachers and other professionals from Brazil offering online courses or selling courses through an e-learning platform can receive payment from their classes and sales through payouts.
- Even in a highly digital world, some things need to be delivered in person, such as original documents, physical goods, and food; for them, delivery apps are the latest word in efficiency and ease of contracting.
So much so that a white paper conducted by BoaCompra in partnership with AMI showed that 49% of consumers planned to expand their use of this type of service, given its convenience.
For companies offering delivery, these service providers can also be paid using BoaCompra Payout Solution, guaranteeing the agility of payment processes.
- Social media
- This segment includes influencers, streamers, content producers, gamers, and others. It is growing as companies seek interlocutors with their audiences, figures who have good dialogue with their base and help bring the brand closer to the consumer.
If Brazilians already spend 1 hour a day on gaming platforms, it is estimated that this market has grown even more in the last year, according to a recent study by BoaCompra in partnership with AMI, which points to a 30% increase in the market of games throughout Latin America.
When it comes to social media, Brazil occupies the 5th position in the global ranking, with 166 million users. The study predicts an increase to 180 million by 2025, which represents 85% of the adult population. The Brazilian preference champions are WhatsApp and TikTok.
It is worth noting that specific platforms also monetize their creators and users in a variety of ways. YouTube rewards large volumes of views, while TikTok and Kwai give incentives for inviting friends, views, and others. Engagement is extremely valuable nowadays, so you can use payout to reward your users for that.
Professional services platform
- Characteristic of the current moment of on-demand solutions, platforms for hiring specialized professionals help both suppliers and companies seeking qualified people for recurring projects and services.
Developers, designers, copywriters, technicians of all kinds: the options are extensive and, with the current economic challenges, the trend is for this type of service platform to continue on the rise. For reference purposes, sites such as Workana, Fiverr, and Upwork have seen a 120% growth in job requests, a significant figure.
The 2021 Worksome Annual Freelance Survey brings optimistic data to the global freelance community. The survey shows that 58% are better paid freelancers than with traditional work contracts; flexibility is the main motivation and 72% are happier than before.
How to send payouts to Brazil with BoaCompra’s solution
Traditionally, the bureaucracy and complexity of Brazilian banks to authorize the remittance of money from another country to Brazil are difficult issues to deal with. This is explained by the fact that most of these institutions face exorbitant fines if the due foreign wire transfers are not properly documented and analyzed.
With BoaCompra’s disruptive Payout solution, such bureaucratic steps are practically eliminated. The process of sending money from abroad to Brazilians becomes fast, secure, and completely effective.
Its great differential is that it is truly instantaneous, sending payouts in a few minutes and directly in local currency (Reais).
Once the merchant has signed with us to use BoaCompra Payout Solution, the flow goes as follows:
- The merchant adds balance to our account in USD or BRL — this is their payout balance;
- The merchant calls BoaCompra API to request a payout;
- The payee can request their payout on the merchant’s site/ app, informing the Pix key or choosing to receive through their PagBank account;
- All done! Within minutes, the payment will be available at the payee’s bank account or e-wallet.
Our solution can send single or mass payouts, being able to process 200 payouts per second and 2 million payouts per day. There are no hidden banking fees or conversion rates.
BoaCompra Payout Solution can open up market opportunities for your company and optimize operations. Want to know more about it? Then click below to talk to us: