Territories - Latin America

Brazil’s payment scene is characterized by a diverse and rapidly evolving landscape. Traditional payments, such as credit and debit cards, remain dominant, with over 70% of Brazilians using these methods for online purchases. However, alternative payments are gaining traction, particularly due to the rise of mobile wallets and digital banking platforms like PicPay and Nubank. These solutions cater to the unbanked population, which still accounts for approximately 30% of the market. Additionally, the adoption of Pix, a real-time payment system launched by the Central Bank of Brazil, has been a game-changer, with over 50 million users in its first year. In ecommerce, where the market is projected to reach $90 billion by 2025, seamless integration of various payment methods is crucial, reflecting consumers’ demand for flexibility and security in transactions.