Payment Landscape in Brazil

Brazil's payment landscape is evolving rapidly, with a significant shift towards digital solutions like PIX, credit cards, and digital wallets such as PicPay and Mercado Pago. This transformation is driven by technological advances and a push for financial inclusion, offering convenience and enhanced security.

Brazil, the largest economy in Latin America, is witnessing rapid advancements in its payment systems. The proliferation of fintech enterprises has translated to a technology driven payment landscape, where streamlined processes, accessibility, and financial inclusion are top of mind.

In this context, the authorities have striven to create an enabling environment favorable for innovation and digital transformation. Such concerted efforts not only bolster confidence in digital transactions but also underscore Brazil's commitment to fostering economic growth and resilience.

Payment Method Distribution

Credit Cards

Even though the authorities are pushing for digital transactions, credit cards remain the most important digital payment method, as they provide convenience due to its financial flexibility. Their widespread acceptance and ease of use make them indispensable tools for daily financial activities, further solidifying their crucial role in Brazil's economy.

PIX (Instant Payment System)

Since its inception by the Central Bank of Brazil in November 2020, PIX has emerged as a transformative force in the country's payment ecosystem, heralding a new era of efficiency and immediacy in financial transactions.

By enabling instantaneous and seamless bank transfers, PIX has transcended traditional barriers, empowering consumers and businesses with unprecedented speed and convenience. As of the March 2024, PIX currently has over 153 million registered users, accounting for nearly 75% of the Brazilian population.

The system handles over 4 billion transactions monthly, with around 49% respond to P2P transactions and 39% to P2B transactions. Whether settling bills, making purchases, or transferring funds, PIX stands as a testament to the power of innovation in modern finance worldwide, with 99% of transactions completed in less than 10 seconds. 

Digital Wallets

Digital wallets have emerged as a cornerstone of Brazil's evolving payment landscape, offering unparalleled convenience and security for everyday transactions. The proliferation of smartphones and innovative fintech solutions have fueled the adoption of these digital repositories.

This widespread acceptance of digital wallets reflects a broader trend in Brazil's payment systems, where technology and innovation drive significant changes. Consumers appreciate the ease and security of digital wallets, while businesses benefit from streamlined transactions and increased efficiency.


At the forefront of Brazil's digital wallet revolution stands PicPay, a groundbreaking platform. Over 35 million active users have chosen this platform for its intuitive interface and comprehensive suite of features.

The features of PicPay go from bill payments to peer-to-peer transfers, all with the tap of a screen. Whether facilitating in-store transactions or facilitating online purchases, PicPay stands for convenience and accessibility in the digital age.

Mercado Pago

As the payment arm of MercadoLibre, Latin America's e-commerce giant, Mercado Pago occupies a pivotal position within Brazil's payment ecosystem. Leveraging the expansive reach of its parent company, Mercado Pago is projected to reach 54.5 million of Brazilian users by 2025.

The payment platform is currently used for online shopping, bill payments, and person-to-person transfers. With a robust infrastructure and a commitment to innovation, Mercado Pago continues to redefine the contours of digital commerce, enriching the lives of users across the nation.


Nupay, a mobile payment solution developed by Nubank, one of Brazil's largest digital banks, offers a seamless and user-friendly experience. Nupay integrates with Nubank's broader financial services, allowing users to make instant payments, manage their finances, and access credit.

By leveraging Nubank's extensive customer base and innovative technology, Nupay is helping to drive the adoption of mobile payments across Brazil. Its popularity among younger, tech-savvy consumers highlights the growing trend of digital financial services in the country.

Mobile Payments

The mobile payment landscape in Brazil is flourishing and rapidly expanding. With a population of 217.0 million as of January 2024, where over 30% are between 25 and 44 years old, the country has also seen substantial growth in its internet user base, reaching 187.9 million users and an internet penetration rate of 86.6 percent

This widespread connectivity has facilitated the adoption of various mobile payment solutions, including digital wallets, mobile banking apps, and contactless payment methods. These technologies are increasingly integrated into the retail sector, with more merchants accepting mobile payments both online and in physical stores.

Google Pay

Google Pay works for many types of transactions, such as online purchases, in-store payments, and peer-to-peer transfers. In Q1 2024, 24% of respondents in Brazil used Google Pay for in-store payments, and 23% used it for online payments. 

Google Pay makes transactions easy and secure by using technologies like tokenization and biometric authentication. These advanced features protect users and make the payment process smooth, improving the overall user experience.

Apple Pay

Apple Pay is very popular among Apple users in Brazil. The platform benefits from the strong presence of the Apple brand and its loyal customer base. In Q1 2024, 16% of respondents in Brazil used Apple Pay for in-store payments, while 9% used it for online payments.

Apple Pay supports various types of transactions, including in-app purchases, online shopping, and contactless payments in stores. It uses security features like Face ID, Touch ID, and unique transaction codes to keep user data safe and private. These features ensure that users can trust Apple Pay for their daily transactions, enhancing their trust in digital payments.