Brazil
Uncover Brazil's payments industry
Brazil, the leading power in Latin America, has the largest e-commerce market and is set to grow by 19% in the coming year.
The market in Brazil
Online retail
The COVID-19 pandemic led to a surge of 4 million new users in Brazil's online retail market, which now stands at a valuation of 36 billion dollars.
Internet connectivity
With a 70% internet adoption rate, Brazil boasts 43 million e-shoppers who spend an average of $450 annually.
Payment methods
Cash payments dominate daily transactions in Brazil, with the Boleto system (Bancário, Rapido & PIX) being the most popular, covering 25% of the cash payment market. PIX, in particular, gained 75 million users in just six months since its 2021 launch.
Banking accessibility
Approximately 48 million individuals in Brazil, who do not utilize banking services, contribute around $204 billion to the country's economy annually. Among the preferred payment methods of this population is Boleto Bancário.
Payment methods
Cash
Online
