As opposed to the international trend of increasing use of bank transfers for online purchases, PIX is becoming more popular in Brazil, as bank transfers only accounted for little under 11% of ecommerce payments in 2021.
The instant payment system PIX was created at the end of 2020 and has amassed over 113 million users, especially in underbanked countries like Brazil. The alternative payment method is not only used for transfers between people but also for buying goods as services, as the report suggests.
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