How do Brazilians pay online? 3 things to know about the current payment scenario in Brazil


Karina Mata Farina, marketing manager at BoaCompra, examines some of the leading payment practices and trends in Brazil, highlighting the opportunities for merchants wishing to operate in the country

A new white paper published by BoaCompra gives an in-depth look at the payments landscape in Brazil for 2021 and the coming years. Read it and understand how your business can take advantage of key trends and opportunities in this promising market.

A regulatory landscape that undergoes frequent change, a very disruptive fintech scene, a mobile-driven population: these are just some of the characteristics that make Brazil such an interesting – and difficult – to sell country.

On the one hand, Brazilians have access to a wide variety of innovative payment solutions, such as the Pix instant payment method, various choices of electronic wallets, the main neobanks born from digital. On the other hand, only 36% of the population has access to credit cards, with around 80% of them only accepting domestic transactions.

This is a complex situation and to be successful in this market, you need local expertise. Here we bring you some. Brazilian fintech BoaCompra has just published the white paper E-commerce and payments in Brazil in 2021: a deep dive into the e-commerce and payments landscape in Brazil, conducted in partnership with Americas Market Intelligence (AMI). The in-depth review of the e-commerce scenario in Brazil includes data on how Brazilians pay online now and how they will pay in the next few years, data on cross-border e-commerce, trends in sales sectors retail, travel, digital products and the current scenario regarding payment processes in the country.

Read on to understand some of the most important facts about payment methods in Brazil and see how your business can better take advantage of the full potential of this promising market.

1. Credit cards rarely accept international transactions

International card brands (Visa, Mastercard, and American Express) account for 85% of credit cards issued in Brazil, but even those commonly used for cross-border transactions: only around 20% of credit cards issued in the country are activated. for international transactions. use.

Besides the domestic cards issued by the aforementioned international brands, Brazilian card issuers such as Elo and Hiper are also major payment methods in the country. These cards accounted for 54% of e-commerce volume in 2020, according to the white paper, and accepting them is fundamental to accessing the entire Brazilian cardholder base.

In the image below, taken from the white paper, you can see exactly the market share for each payment method. The first column shows the figures for 2020 and the second represents the expectations of the study researchers for 2024.

Source: E-commerce and payments in Brazil in 2021: a deep dive into the e-commerce and payments landscape in Brazil – BoaCompra and AMI white paper

2. In less than a year, the Pix instant payment method has already changed the game

By 2024, wire transfers are expected to account for 12% of e-commerce volumes in Brazil, the white paper says. This scenario was very different (only 2%) before November 2020, when the country’s central bank officially released its instant payment method, Pix. Quickly and massively adopted by users (for whom it is completely free), Pix has seen a monthly increase of around 53% in P2B payments since its launch.

The white paper reveals that merchants who have already activated Pix have it as their second or third preferred payment option among their Brazilian customers, averaging 25% of sales volume – higher than e-wallets, debit cards, boleto and other types of bank transfers.

3. Allowing payment in installments is fundamental in order to sell more

One of the most common payment practices in Brazil is payment by installments – or compra parcelada. An extremely popular option offered by almost any merchant that accepts cards, it allows consumers to split purchases into three, six, twelve, or even up to 24 monthly payments, in many cases interest-free.

It is consistently chosen by 79% of Brazilians, and the higher the final purchase price, the greater the chance that your customer will want to pay for it in installments. According to the white paper, offering it is a must for traders with average bills of $ 50 or more.

However, installment payments can only be accepted by merchants who deal locally through local acquirers. To take advantage of the opportunities offered by the Brazilian e-commerce market and better navigate its complex payment scenario, it is essential to rely on a local partner.

Founded in Brazil and also operating in 16 other Latin American countries, BoaCompra is the perfect choice for merchants looking for a one-stop solution to accept local payments in Brazil and start selling to this audience. Click here to download the full white paper and learn more about the opportunities, trends and challenges of e-commerce in Brazil.

About Karina Mata Farina

Karina Mata Farina is Marketing Manager at BoaCompra, a PagSeguro company. She has over 16 years of experience in digital marketing, performance management and e-commerce. Prior to BoaCompra, Karina worked in e-commerce companies, startups and digital agencies.

About BoaCompra

With over 15 years of experience, BoaCompra is a cross-border payment platform that allows merchants around the world to access Latin America by accepting local payment methods and local currency, without the need for a local entity. It also allows one-time / bulk payments to Brazilians, in local currency, instantly, with no bank charges. BoaCompra is part of PagSeguro, a disruptive fintech company driven by strong and consolidated infrastructure and capital.


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