Card-based payments are the most common online payment method in Brazil, accounting for 53% of all transactions. This is likely due to the high penetration of credit and debit cards in Brazil, with 64% of Brazilians over the age of 18 having a debit card and 50% having a credit card.
Boleto Bancário is the most popular cash payment method for Brazilian consumers who do not have a bank card. It is used to make over 3.7 billion transactions per year, which represents about 25% of all online payments in Brazil.
Pix, a popular instant payment method that enables seamless bank transfers in Brazil, sees around 30,000 transactions processed every minute. This payment method experienced exponential growth recording 124 million users in 2022.
An estimated 16 million Brazilians, or 7.8% of the country’s total population, currently own cryptocurrency.