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Brazil
during 2025-2028
Popularity of e-commerce payment methods
Extend your reach
Introduced in 2021, Open Banking in Brazil allows customers to share their financial data with banks and fintechs. Building on Open Banking, Open Finance enables customers to control and share their data across a broader range of financial institutions including insurance, investments, and other financial services.
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Reasons for Popularity
Secure for High-Value Transactions: Preferred by businesses and individuals for large-value payments, ensuring reliability and traceability
Integrated Services: Supported by 98% of financial institutions, with seamless functionality via mobile and online banking apps
Consumer and Business Trust: Considered a secure and formal payment method for personal, professional, and e-commerce-related transactions
Boleto Rápido is a traditional payment method in Brazil, allowing users to pay bills or purchases via printed slips or barcodes. Over 3.7 billion boletos were issued in 2022, making it a key option for unbanked populations.
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Reasons for Popularity
Accessibility: Available to all, even without a bank account, and payments can be made at banks, lottery shops, or through online platforms, over 48,000 locations across Brazil
Offline Functionality: Ideal for consumers without regular internet access, as barcodes can be generated offline and paid in cash
Universal Acceptance: Widely used for utilities, subscriptions, taxes, and purchases across e-commerce platforms
PIX is Brazil's real-time payment system, used by over 140 million individuals and businesses. Operated by the Central Bank, it processes transactions 24/7, with over 70% of Brazilians actively using it since its launch in 2020.
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Reasons for Popularity
Speed: Transactions settle in less than 10 seconds, making it ideal for urgent payments and real-time transfers.
Cost-Free for Individuals: Most personal transactions are free, eliminating traditional bank fees and appealing to cost-conscious users.
Widespread Merchant Adoption: Accepted by over 10 million businesses, ranging from e-commerce platforms to small retailers and service providers.
PicPay, Brazil’s largest digital wallet, had over 35 million active users by the end of 2023. It supports peer-to-peer transfers, QR payments, and bill payments while offering credit services.
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Reasons for Popularity
Dominance in Peer-to-Peer Transactions: PicPay captures a significant share of digital wallet transfers, making it the preferred choice for personal payments among Brazilians
Versatile QR Payment System: The platform's QR payment feature is widely accepted by numerous merchants, facilitating both online and in-store transactions
Integrated Financial Services: Beyond payments, PicPay offers a suite of financial products, including loans and credit card management, appealing to a broad user base seeking comprehensive financial solutions
