Digital wallets, which can be accessed via smartphones, computers, and even smartwatches, have already become popular among Brazilians. According to a recent study by consulting firm Pymnts, over 80% of the national population already use this payment method, where the consumer adds funds to a virtual environment and can access it in a few clicks. Globally, data from Juniper Research shows that transactions using this option could exceed US$16 trillion by 2028.
According to Walter Campos, general manager of Yuno, a global payments orchestrator, the reason behind the success of digital wallets is due to the practicality of their use, which makes life easier for consumers on e-commerce platforms. "Some other methods require the client to constantly switch screens or access the bank's app separately, which hampers their experience," he points out.
Meanwhile, through digital wallets, the user does everything they need in a few minutes without having to leave the platform. "This saves time and increases the chances of your purchase being completed, as the constant change of tools makes the customer susceptible to abandoning the purchase. Additionally, a study by Yampi shows that complicated checkout processes are responsible for 27% of cart abandonment cases in e-commerce, which occurs when the consumer reaches the final stage and gives up on the purchase," explains Walter Campos.
The executive also points out that digitalization has been the main theme of commerce. Another survey by Pymnts also points out that Latin America stands out in the digital transaction revolution. This is partly due to the significant importance of e-commerce here. The eMarketer/Insider Intelligence study shows that sales through this category are expected to reach US$ 200 billion in the region by 2026, he explains.
Therefore, to keep their businesses relevant, Walter Campos recommends that retailers pay attention to digital trends, as consumers are increasingly immersed in the virtual environment to make their purchases. In a country where there are 480 million devices in use, according to FGV, it is natural for electronic platforms to be prioritized by people who wish to make a purchase. Therefore, a recommendation to e-commerce players is to adopt platforms that facilitate and allow the use of multiple payment methods at once, promoting financial inclusion and enabling territorial expansion, concludes.
