Brazilian ecommerce and mobile commerce are growing in popularity every day. In turn, digital e-wallets are expected to double in popularity to 31% by 2021 with a worth of USD 23.7 billion USD.
In Brazil, over 55 million consumers do not have a bank account, hence, the popularity of alternative payment options. With over 500 million phones and 10 billion top-ups annually, digital wallets that are accessible via a mobile device are the future of Brazilian payments.
Brazil’s population is just over 200 million. 56% of their population are online and 38% use a smartphone.
Allied Wallet is now offering several alternative payment options in Brazil, as they are now compatible with Allied Wallet’s digital e-wallet services.
Allied Wallet is now compatible with Boleto Bancário, Hipercard, Banco do Brasil, AstroPay Card, Santander, Elo, Bradesco, Aura, Cartao MercadoLivre, and Itaú.
The average internet user in Brazil spends about USD 560 online and online shopping is expected to grow 64% in the next three years (Forrester); however, 47% are concerned about security online.
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