Voice of the Industry

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

Monday 11 October 2021 08:24 CET | Editor: Raluca Constantinescu | Voice of the industry

Karina Mata Farina, Head of Marketing at BoaCompra, looks at some of the main payment practices and trends in Brazil, highlighting the opportunities for merchants aiming to operate in the country

A new white paper released by BoaCompra gives an in-depth look at the payment landscape in Brazil for 2021 and the next few years. Read it and understand how your company can leverage the main trends and opportunities of this promising market. 

A regulatory landscape that frequently undergoes changes, a highly disruptive fintech scene, a mobile-first population: these are only some of the characteristics that make Brazil such an interesting – and challenging – country to sell to. 

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

It’s a complex picture, and operating successfully in this market requires local expertise. Here, we bring you some of that. Brazilian-founded fintech BoaCompra has just released the white paper Brazilian E-commerce and Payouts in 2021: A deep dive into Brazil’s e-commerce and payout landscape, conducted in partnership with Americas Market Intelligence (AMI). The in-depth look at the ecommerce scenario in Brazil includes data on how Brazilians pay online right now and how they will pay in the next few years, data about cross-border ecommerce, trends in the retail, travel, digital goods industries, and the current scenario about payout processes in the country. 

Keep reading to understand some of the most important facts about payment methods in Brazil and see how your company 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) represent 85% of credit cards issued in Brazil, but not even those are commonly used for cross-border transactions: only around 20% of credit cards issued in the country are enabled for international use. 

Besides national 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 ecommerce volume in 2020, according to the white paper, and accepting them is fundamental to access the totality of the Brazilian cardholder base. 

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


Source: Brazilian E-commerce and Payouts in 2021: A deep dive into Brazil’s e-commerce and payout landscape – BoaCompra and AMI White Paper 

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

By 2024, bank transfers should account for 12% of ecommerce volumes in Brazil, shows the white paper. 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’s completely free of charge), Pix has been showing a monthly increase of around 53% in P2B payments since its launch. 

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

3. Allowing payment in instalments is fundamental to sell more 

One of the most common payment practices in Brazil is instalment payments – or compra parcelada. A hugely popular option offered by almost every merchant that accepts cards, it allows consumers to break purchases up into three, six, twelve, even up to 24 monthly payments, in many cases with no interest. 

It’s routinely chosen by 79% of Brazilians, and the higher the final purchase price is, the higher the chances your client will want to pay it in instalments. According to the white paper, offering it is a must for merchants with average tickets of USD 50 or more. 

However, instalment payments can only be accepted by merchants who are processing locally through local acquirers. To leverage the opportunities offered by the Brazilian ecommerce market and better navigate its complex payment scenario, counting on a local partner is a must. 

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

About Karina Mata Farina 

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



About BoaCompra 

With over 15 years of experience, BoaCompra is a cross-border payment platform that enables worldwide merchants to access Latin America by accepting local payment methods and local currency, with no need for a local entity. It also allows single/mass payouts to Brazilians, in local currency, instantly, with no banking fees. BoaCompra is part of PagSeguro, a disruptive fintech company driven by robust and consolidated infrastructure and capital.


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Keywords: PIX, merchants, e-wallet, ecommerce, payment methods, cross-border ecommerce
Categories: Payments & Commerce | Online Payments
Countries: Brazil
This article is part of category

Payments & Commerce