Brazil has reached the milestone of 200 million banked individuals, according to data from the Central Bank, indicating that 89.9% of the population has some banking connection, according to estimates from the Idwall Ranking, in partnership with the Cadarn consultancy. Despite the significant number, a substantial portion of the population remains unbanked, without an active account or full access to the most commonly used financial products, such as credit or financing.
Even without a relationship with a financial institution, the unbanked find payment alternatives that make sense for their reality: online payment methods offered by e-commerce, which is one of the drivers of financial inclusion, according to the Central Bank (BC).
Fintechs that act as payment intermediaries provide various services without the need for a permanent relationship with the client. Some examples are the credit cardprivate labelor the web credit system, which directly benefits the unbanked, allowing them to shop online safely and efficiently," comments Marlon Tseng, CEO ofSmilingpayment institution specialized in solutions that connect businesses to emerging markets.
Online payment methods for those without a bank account are a differentiator in e-commerce
Although having a negative credit record does not necessarily prevent opening a bank account, credit restrictions can make it difficult to access essential financial products. It is in this context that alternative payment methods gain strength, by offering concrete means of consumption for those who do not have a bank account or access to credit cards.
For these consumers, online payments are more than a convenience; they are an essential bridge to digital commerce. An example of this is the "buy now, pay later" model, already familiar to the Brazilian public and now established as a global trend in financial inclusion in e-commerce.
The bank slip is one of the most accessible payment methods in the country. In 2024 alone, it moved R$ 5.8 trillion in Brazil, combining transactions from individuals and companies, according to Febraban data. "The boleto is a democratic solution. It can be paid through various channels, does not require a bank account, and is widely accepted by online retail," analyzes the executive.
In addition to him, companies can offer the unbanked a store-branded credit card (private label), which is issued and managed directly by retailers. It allows the customer to buy online and pay in installments, which ensures the offering of credit in a secure manner and reduces the risk of default, since each company can establish its own criteria for credit approval.
Another option is the web installment plan, a safer and more technological version of the famous 'payment booklet,' which offers unbanked customers another option for making installment purchases.
Technology as an ally of inclusion
The advancement of digital payment technologies has driven millions of Brazilians into the consumer market. For companies, adopting inclusive solutions is more than a competitive advantage; it is an opportunity for loyalty and expansion.
"By integrating methods that follow the actual habits of the population, especially the unbanked, we create not only new business opportunities but also longer-lasting connections with consumers. This is how we promote inclusion and relevance in the digital environment," concludes Tseng.
