Payment operations made by Pix in e-commerce are expected to represent more than 50% in the sector by 2027. As for the credit card, despite losing a little space, 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, Canadian fintech payment solutions, that is in its 2nd edition and focuses 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 United Arab Emirates
In 2024, the percentage of Pix usage was 40% in e-commerce and, from here on, the forecast is that this payment method will increasingly appeal to the Brazilian public. Since its launch in 2020, he transformed the way the country's public conducts transactions. Your great success is due to your speed, practicality and absence of fees for consumers, becoming especially popular among unbanked populations or those with limited access to traditional financial services
"The release of Pix by proximity by the Central Bank", made on February 28, represents another advance in the journey of payment innovation in Brazil. With this news, consumers will be able to make purchases in an even more agile and intuitive way, just touching the phone to the machine, just as they already do with debit and credit cards, comment Daniel Moretto, senior vice president of Nuvei Latin America. "Furthermore, the possible 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, affirms 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 yet another technology solution that consumers have been looking at. 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 advancements and greater financial inclusion. Credit and debit cards remain the main payment methods in South African e-commerce, driven by the consolidated banking infrastructure in urban areas. The use of debit cards in the country will remain with little variation in the coming years and will represent 40%, while the credit one will not have changes until 2027, remaining at the level of 3% of its use
It is worth saying that digital wallets are gaining strength, especially among young consumers and mobile commerce enthusiasts. They offer fast and secure payments, being increasingly used for purchases in apps, service bills and small transactions
