Payments operations carried out via Pix in e-commerce are expected to account for more than 50% in the sector by 2027. As for the credit card, although it will lose some ground, it will also remain relevant, representing 27% of payment methods by 2027. It is what the study bringsGlobal Expansion Guide for High-Growth Markets”, produced by Nuvei, a Canadian fintech payment solutions company, now in its 2nd edition, focusing on Brazil and South Africa. The study is part of a series of reports analyzing e-commerce in eight high-growth markets mapped by Nuvei — Brazil, South Africa, Mexico, Hong Kong, Chile, India, Colombia, and the United Arab Emirates.
In 2024, the percentage of Pix usage was 40% in e-commerce, and from now on, the forecast is that this payment method will become increasingly popular among the Brazilian public. Since its launch in 2020, it has transformed the way the country's audience conducts transactions. Your great success is due to your speed, convenience, and lack of fees for consumers, making it especially popular among unbanked populations or those with limited access to traditional financial services.
The release of Pix via proximity by the Central Bank, on February 28th, represents another step forward in the innovation journey of payment methods in Brazil. With this new feature, consumers will be able to make purchases in an even faster and more intuitive way, simply by touching their phone to the machine, just as they already do with debit and credit cards," comments Daniel Moretto, senior vice president of Nuvei Latin America. "Furthermore, the potential integrations of Pix with international systems have the potential to transform cross-border transactions, expanding its global relevance and benefiting both consumers and companies operating in international e-commerce," states the executive.
Among the preferred payment methods of Brazilians, digital wallets are also gaining ground, especially among younger consumers and in large cities. In 2024, these solutions accounted for 7% of payments in e-commerce, and although the forecast for 2027 is 6%, they are more of a technology solution that consumers have been paying attention to. The use of bank slips is decreasing in e-commerce and is expected to drop from 8% in 2024 to 5% by 2027.
South Africa
South Africa presents a combination of traditional methods and innovative solutions, driven by technological advances and greater financial inclusion. Credit and debit cards remain the main payment methods in South African e-commerce, driven by the established banking infrastructure in urban areas. The use of debit cards in the country will remain with little variation in the coming years and will account for 40%, while credit card use will not change until 2027, remaining at 3% of its usage.
It is worth noting that digital wallets are gaining strength, especially among young consumers and mobile commerce enthusiasts. They offer fast and secure payments, increasingly used for app purchases, service bills, and small transactions.
