Expected to reach 44% of online purchases by
2025, Brazil's instant payment
system and its growth will be key topics at EBANX's Payments
Summit, starting on September 18 in
four countries
CURITIBA,
Brazil, Sept. 10,
2024 /PRNewswire/ -- Brazil's instant payment system Pix is set to
surpass credit cards as the most widely used payment method in
Brazilian digital commerce by next year, according to Payments and
Commerce Market Intelligence (PCMI) data analyzed by EBANX, a
global technology company specializing in payment services for
emerging markets. The projection for 2025 estimates that Pix will
account for 44% of all value transacted in online purchases in
Brazil, an increase of four
percentage points, while cards will have a 41% share. The even more
intense acceleration of Pix over the past year has brought this
scenario forward, as previous forecasts indicated it would surpass
credit cards only after 2026. This data is part of a study produced
for the 7th EBANX Payments Summit, an annual event that brings
together industry leaders from around the world to discuss trends
and innovations in digital economy and payments, such as Pix, which
in less than four years has more more than 168 million users and
accounts for 14% of all instant payments worldwide, according to
ACI Worldwide report.
The growth of Pix in the past year has been
driven primarily by retail and travel, the two largest digital
verticals in the country, and also the two that will accelerate the
most: 31% and 20% per year, respectively, over the next three
years, with Pix currently holding one third of the total value
transacted in each. "These sectors saw Pix as a way to reach
more customers. Many merchants encourage payments with Pix by
offering discounts to those who choose it," explains
Sebastian Fantini, Product
Director at EBANX.
Gaming and delivery apps have also contributed
significantly to Pix's acceleration. In both cases, the volume of
Pix transactions is already approaching the percentage of credit
cards. xVerticals like SaaS and streaming services are still
dominated by credit cards, with over 60% share, but this scenario
is expected to change in the near future, as the Central Bank of
Brazil has been developing new
features for Pix that have the potential to make it even more
popular, such as Auto Pix, for recurring payments, and Pix
Garantido, which will enable people to pay with Pix in
installments, which is a common habit among Brazilian consumers.
"Pix still has significant room for growth, even though it is
already a part of the lives of 4 out of 5 Brazilian adults,"
says Fantini. Not surprisingly, Pix alone will respond for 24% of
the total value transacted online across Latin America in 2025. With the success of
Pix, Brazil has become a beacon
for the payments market across the region: ten Latin American
countries are pursuing or launching instant payment methods led by
Pix, as stated by Capgemini.
Pix is a catalyst for digital commerce, as
credit cards remain strong
According to the Central Bank of Brazil, Pix included 71.5 million users in the
financial system in just the first two years of operation. These
people were virtually excluded from digital commerce. EBANX
internal data shows that 95% of people who made their first
purchase at one of its partner's online stores paid with Pix.
"Indeed, Pix has been serving as a gateway to digital commerce.
It has positively impacted not only the financial and digital
inclusion of Brazilians but also the businesses of merchants who
offer this payment method to their customers," says Fantini.
Companies accepting Pix with EBANX in digital commerce experience a
16% increase in their revenue and a 25% growth in the number of
clients. "Pix is moving the needle on their financial
results," he emphasizes. EBANX's internal data considers more
than 2 million daily transactions, including payments for 20% of
all Pix users and nearly 70% of Brazil's credit cardholders.
Despite Pix's rapid rise, credit cards still hold
significant importance in building customer loyalty in Brazil, where card issuance has increased by a
staggering 130% in four years. The PCMI data analyzed by EBANX
indicates a 21% annual growth in the value transacted on digital
commerce by credit cards over the next three years. "Credit
cards and instant payment methods like Pix are allies, not
competitors," Fantini explains. "This is why we say at EBANX
that merchants should not focus on one method or the other, but
rather have a combination of methods, tailored to their vertical
and the country they are focusing."
Payments Summit 2024
The tremendous
success of instant payments, such as Pix in Brazil, will be one of the topics discussed at
the upcoming 7th edition of EBANX Payments Summit, which will
explore the forefront of payments innovation across rising
economies. It will take place in four locations across the globe:
Barcelona, Spain (Sep 18-20); Napa
Valley, in California, US
(Sep 30-Oct 2); Bangkok, Thailand (Oct
24-26); and São Paulo, Brazil (Nov 5).
The lineup of speakers includes João Del
Valle, CEO of EBANX; Maria
Francis, Head of Business Development for Americas at
National Payments Corporation of India (NPCI); Rene
Salazar, Head of Financial Partnerships for Latin America at Stripe; Anderson Teixeira, Head of Global Cards at
Santander Brasil; Wolfgang Fengler,
CEO of World Data Lab; Andrew Kaing,
Senior Product Manager at Canva; Constanza López Vela, Deputy
General Manager of Acquiring Business at Banorte Mexico; and
several others.
ABOUT EBANX
EBANX is the leading
payment platform connecting global companies with customers from
the fastest-growing digital markets in the world. The company was
founded in 2012 in Brazil with the
mission of giving people access to buy in international digital
commerce. With powerful proprietary technology and infrastructure,
combined with in-depth knowledge of the markets where it operates,
EBANX enables global businesses to connect with hundreds of payment
methods in different countries in Latin
America, Africa, and
Asia. EBANX goes beyond payments,
increasing sales, and fostering seamless purchase experiences for
businesses and clients.
For further information, please visit:
Website: https://www.ebanx.com/en/
LinkedIn: https://www.linkedin.com/company/ebanx
Media Contact:
Leonardo Stamillo
leo@contentco.tech
Content CO
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SOURCE EBANX