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 analysed by EBANX.
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 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 that shows in less than four years Pix has more more than 168 million users and accounts for 14% of all instant payments worldwide.
The growth 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.
“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 its acceleration. In both cases, the volume of Pix transactions is already approaching the percentage of credit cards.
Cross verticals 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.
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 instalments, 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,” continues Fantini.
Not surprisingly, Pix alone will account for 24% of the total value transacted online across Latin America in 2025.
Pix: a catalyst for digital commerce
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, it 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,” Fantini emphasises.
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 the 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 analysed indicates a 21% annual growth in the value transacted on digital commerce by credit cards over the next three years.
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