The Buy Now, Pay Later (BNPL) model continues on an upward trajectory globally and is gaining momentum in Brazil as well. In 2023, the global transaction volume via BNPL reached US$316 billion—an 18% increase from the previous year—with projections of 9% annual growth until 2027, reaching US$452 billion in transactions, according to data from the Global Payments Report, 2024.
This trend is already impacting consumer behavior and the payments sector, driving integration between BNPL and traditional credit by banks, tech companies, retailers, and regulators. In Brazil, Koin—a fintech specialized in simplifying digital commerce—has emerged as a pioneer and leader in developing this model, offering tailored solutions for the consumer’s digital journey and the reality of national retail.
In Latin America, the scenario is one of development. In 2023, BNPL accounted for just 1% of regional e-commerce transaction volume. However, projections indicate accelerated growth, with an annual rate of 35% between 2023 and 2026, according to PCMI data (Digital Payments and E-commerce in Latin America 2023-2026).
In Brazil, the model is also gaining traction. A Morgan Stanley survey of 150 e-commerce websites revealed that 18% already accepted BNPL in the first quarter of 2024. Although this number remains modest compared to markets like Mexico and the United States, the trend points to significant expansion.
“This growth is strongly driven by consumer behavior, as they increasingly seek flexibility and payment options that suit their needs. At Koin, we are focused on offering secure and accessible solutions, enabling more people to control their purchases without compromising their budget,” explains Raphael Valente, Chief Risk Officer at Koin.
Moreover, Brazil’s environment is especially favorable. The culture of installment payments has deep roots, dating back to the 1980s and 1990s, during a period of economic instability and scarce credit. With the consolidation of e-commerce, the popularization of Pix, and barriers to credit card access, BNPL emerges as an evolution of this behavior—more flexible, digital, and accessible. “Installments have always been part of Brazilian consumer habits. BNPL modernizes this experience, making credit access simpler, more inclusive, and tailored to the needs of digital consumers,” says the executive.
This movement occurs amid the growing digitization of payment methods in the country. According to the Febraban Banking Technology Survey (2024), seven out of ten banking transactions in Brazil are conducted via mobile devices—a 251% jump between 2019 and 2023. Additionally, 72% of digital users are considered heavy users, conducting over 80% of their transactions through digital channels. Contactless payment, for example, was adopted by 61% of card users in 2024, up from 48% the previous year, according to ABECS data.
In this context, the executive highlights that Koin was founded with the purpose of democratizing access to responsible consumption. “Today, besides being a reference in the BNPL sector, we work to foster a healthy credit ecosystem in Brazil, in partnership with retailers and financial market players,” emphasizes Koin’s CRO, underscoring the fintech’s strategic role in developing the model in the country.
With a strong presence in retail, cutting-edge technology, and a focus on customer experience, Koin continues to lead BNPL adoption in Brazil, helping make credit more accessible, secure, and integrated with consumers’ new digital reality.
