The modelBuy Now, Pay Later(BNPL) is on an upward curve globally and is gaining strength in Brazil as well. In 2023, the global volume of transactions via BNPL reached US$316 billion — 18% increase compared to the previous year — and the projection is for an annual growth of 9% until 2027, atingindo US$452 billion in transactions, according to data from the Global Payments Report, 2024
The trend is already impacting consumer behavior and the payments sector, driving integration between BNPL and traditional credit by banks, technology companies, retailers and regulators. In Brazil, a Koin – fintech specialized in simplifying digital commerce – has been standing out as a pioneer and leader in the development of the modality, with tailored solutions for the consumer's digital journey and the reality of the national retail
In Latin America, the scenario is of development. In 2023, BNPL accounted for only 1% of the volume of transactions in regional e-commerce. However, the projection is of accelerated growth, with an annual rate of 35% between 2023 and 2026, according to data from PCMI (Digital Payments and E-commerce in Latin America 2023-2026)
In Brazil, the model also begins to gain strength. A Morgan Stanley survey based on 150 e-commerce sites revealed that 18% were already accepting BNPL in the first quarter of 2024. Although the number is still modest compared to markets like Mexico and the United States, the trend is of significant expansion
This progress is strongly driven by consumer behavior, who are increasingly seeking flexibility and payment options that suit their needs. On Koin, we are focused on providing safe and affordable solutions, allowing more people to have control over their purchases without compromising their budget, explain Raphael Valente, Chief Risk Officer of Koin
Furthermore, in Brazil, the environment is especially favorable. The culture of installment payments has deep roots, going back to the 1980s and 1990s, in a period of economic instability and scarce credit. With the consolidation of e-commerce, the popularization of Pix and the barriers to credit access via card, the BNPL surge as an evolution of this behavior, more flexible, digital and accessible. Installment plans have always been part of Brazilian consumers' habits. The BNPL modernizes this experience, making access to credit easier, inclusive and adapted to the needs of the digital consumer, affirms the executive
This movement occurs amidst the growing digitalization of payment methods in the country. According to the Febraban Banking Technology Survey (2024), seven out of ten bank transactions in the country are carried out via mobile devices — a 251% jump between 2019 and 2023. Furthermore, 72% of digital users are consideredheavy users, conducting more than 80% of their transactions through digital channels. Contactless payment, for example, was adopted by 61% of card users in 2024, ahead by 48% compared to the previous year, according to data from ABECS
In this scenario, the executive highlights that Koin was born with the purpose of democratizing access to responsible consumption. "Today, in addition to being a reference in the BNPL sector, we work to foster a healthy credit ecosystem in Brazil, in partnership with retailers and players in the financial market, strengthen Koin's CRO, highlighting the strategic role of fintech in the development of the model in the country
With a strong presence in retail, cutting-edge technology and focus on customer experience, Koin continues to lead the adoption of BNPL in Brazil, contributing to making credit more accessible, sure and integrated into the new digital reality of consumers
