How to Generate Invoice with Barcodes

Generating a boleto with barcodes is a necessity for many companies to avoid losing sales and to cater to customers who choose this payment method.

However, the recurring boleto payment option is still an enigma for many entrepreneurs, with questions arising about its worth due to costs and defaults.

The truth is that the boleto bancário is the preferred payment method for many consumers, mainly due to its security, as there is no need to input credit card details on websites to make purchases. Additionally, another reason is that, when paying via boleto, the customer’s credit card limit is not compromised.

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But looking from the retailer’s side, the boleto can also be a very interesting solution, especially for recurring billing cases.

Thus, this content aims to present some data about the boleto bancário, why it is important for your company, and, mainly, how to generate it quickly and efficiently.

Data About Boleto

The boleto bancário with a barcode was created to facilitate payments and increase security for both the retailer and the customer. It was introduced through a normative instruction from the Central Bank in October 1993, which determined the procedures for electronic payment collection.

In Brazil, FEBRABAN is the entity responsible for standardizing boletos, ensuring that all banking institutions adhere to these guidelines. The goal is to offer a secure and reliable payment method to people.

Although PIX is now at the top of the list of preferred payment methods for Brazilians, the boleto bancário held this position until 2020, according to research from E-commerce Brasil and Sebrae, published on the Valor Econômico website in 2019.

A more recent survey conducted by Fiserv, a technology company, and published by CNN Brasil in July 2021, showed a change in rankings but still kept the boleto bancário among the top 4 positions.

• Credit and Debit Card (28%)
• PIX (22%)
• Digital Wallets (11%)
• Boleto Bancário (9%)
• Cash (8%)

The harsh truth is that it largely depends on the niche you operate in and the profile of your customer. Depending on what you sell, your audience may prefer one payment method over another. Therefore, the main idea to cater to everyone is to offer a variety of these methods to avoid losing any sales.

Why Offer This Payment Method?

The first point to consider here is that the boleto bancário is one of the most democratic payment methods in Brazil today. Even those without a bank account can purchase from your company using this option, as the boleto can be paid even at lottery outlets and in cash.

Another factor is that, even with the possibility of a customer making a purchase and not paying the boleto, it is necessary to consider this payment method due to its low operational cost.

The fee charged to generate a boleto with a barcode is considerably lower than those charged by credit card companies. Additionally, some banks tend to offer discounts to companies that adopt this solution to increase their offering possibilities.

As a further motivating factor, the arrival of fintechs has provided even more advantages to companies that wish to sell via boleto bancário. Cora, a free digital account for businesses, for example, does not charge any fees for generating a boleto with a barcode. In other words, if you are a customer of the startup, you can sell your products or services and receive 100% of the amount when your customer completes the payment.

How to Generate Boleto with Barcodes?

Knowing the advantages of the boleto, you are probably even more interested in learning how to offer this type of payment in your company, right? Well, there are two main ways to issue boletos, either directly with a bank or through a billing and payment system.

To issue the boleto through a banking institution, your company will need to have a bank account linked to its CNPJ. However, this is not always the only requirement; depending on the institution you choose, it may be necessary for your contract to include this service.

A downside to this type of contract is that for issuing a boleto via a traditional bank, the entire process is done manually, even the input of the fields. The situation becomes even more complicated in cases of recurring billing, where a new boleto must be generated each month.

Now, if you have an automated process, things become much simpler. As mentioned earlier, Cora offers this service with several advantages, such as:

• Issuance of boletos with speed and simplicity;
• The possibility to generate unique or recurring barcoded boletos in minutes via the Cora app;
• Funds released in the account within up to 3 business days after payment confirmation;
• The ability to track all generated boleto receipts directly in the app.

Now, check how truly simple it is to generate your boleto through the Cora app:

1. Access the Cora app
2. In the top menu, click on “charge”;
3. You will have the option to issue a boleto with or without a Pix QR Code;
4. You will also have the option to issue in full or in installments;
5. Choose to issue a boleto for a new contact or for a previously saved contact;
6. Write the customer’s name;
7. Choose either individual or corporate;
8. Enter your customer’s document (CPF or CNPJ);
9. Enter the boleto amount;
10. Name the charge;
11. If desired, you can add a description;
12. Choose a due date;
13. Confirm the boleto information and click confirm;
14. Done, your boleto has been generated!

It is important to emphasize that this process is exclusive to Cora, as each financial institution has the freedom to create its process as it pleases.

However, it’s always important to remember that the cost of this solution can directly impact the results of your company, affecting its profitability. Therefore, always consider companies that offer this option for free, like Cora.