Brazil’s payment ecosystem has undergone significant transformation in recent years. The introduction of Pix in 2020 revolutionized instant payments, leading to widespread adoption across the country.
By 2025, various payment methods coexist, including traditional options like cash and cards, as well as modern solutions such as digital wallets and Buy Now, Pay Later (BNPL) services. This diverse landscape reflects Brazil’s commitment to financial innovation and inclusion.
Payment by card in Brazil
Card payments remain a significant part of Brazil’s payment ecosystem. In 2025, the total value of card payments is projected to reach $657.5 billion, reflecting a compound annual growth rate (CAGR) of 10.9% from 2021 to 2025.
Credit cards are widely used, especially for online and installment purchases. However, their dominance is declining due to the rise of Pix. In 2025, credit cards are projected to account for 41% of online payment transactions, down from 49% in 2023 .
Debit cards are also prevalent, with 69.1% of the population using them as of early 2025. Contactless payments via NFC-enabled cards and mobile wallets are gaining popularity, particularly in urban areas .
Local Card Schemes
Elo – Established by Banco do Brasil, Bradesco, and Caixa Econômica Federal, Elo has become a prominent domestic card brand. As of 2024, Elo holds a 14% market share in Brazil. The brand has expanded its international acceptance through a partnership with Discover Global Network.
Hipercard – Owned by Itaú Unibanco, Hipercard has been a widely accepted credit card in Brazil. However, as of July 2025, Hipercard is being phased out, with existing cards being migrated to the Mastercard brand.
Cabal – Cabal operates within the cooperative financial system, offering cards primarily through institutions like Sicoob. Their cards are accepted across various POS terminals in Brazil and have expanded international acceptance through partnerships with networks like Discover-Diners.
Sicredi – As a cooperative financial institution, Sicredi issues cards under various brands, including its own. They have introduced compact card machines catering to micro-entrepreneurs and small businesses.
BNDES – The BNDES Card is a government-backed credit card aimed at supporting micro, small, and medium-sized enterprises (MSMEs) in Brazil. It offers favorable financing conditions for purchasing accredited products and services.
International Card Schemes
Mastercard– Leading the market with a 51% share in Brazil as of 2024.
Visa– Holding a significant share with 31% of the Brazilian market in 2024.
American Express – While present, Amex has a smaller footprint in Brazil compared to Mastercard and Visa.
Payment by cash
Cash use in Brazil continues to decline steadily. This shift is driven by the growing adoption of digital payments, especially Pix. As of early 2025, 68.9% of Brazilians still report using cash. However, only 22% consider it their preferred method of payment, according to a 2024 PagBrasil study. Urban areas show a stronger move away from cash, while rural zones remain more cash-reliant.
Lower-income groups and older adults still rely on physical money for everyday transactions. In remote regions, limited internet access and lower smartphone penetration slow the adoption of digital tools. Despite this, the overall trend remains clear: digital is replacing cash.
The Central Bank of Brazil monitors cash habits through regular national surveys. Their 2023 study, “O Brasileiro e sua relação com o dinheiro,” confirmed that cash use is falling year after year.
Still, cash plays a vital role for many. Street vendors, local markets, and small businesses often operate in cash. Some accept Pix, but others remain unbanked. For these segments, physical currency provides access and autonomy.
As digital payments grow, policymakers must ensure inclusion. Infrastructure, education, and outreach are key to avoid marginalizing vulnerable groups.
Local actors
Boleto Bancário is a barcode-based cash payment method that allows unbanked consumers to pay for online purchases at banks, ATMs, or convenience stores.
Boleto Flash®, developed by PagBrasil, confirms Boleto payments within one hour, offering a faster and mobile-friendly experience for e-commerce.
PEC Flash® lets consumers pay for online purchases in cash at over 13,000 lottery agencies across Brazil, making e-commerce accessible without a bank account.
Payment by Bank Transfer
Bank transfers in Brazil have changed radically in the past five years. Since its launch in late 2020, Pix has become the country’s dominant payment method. Created by the Central Bank of Brazil, Pix enables instant transfers, available 24/7, free of charge for individuals.
By March 2025, Pix processed over 6.2 billion monthly transactions, surpassing both credit and debit cards in volume. In 2024 alone, it handled more than 26 trillion reais ($4.6 trillion) in payments, showing its national reach and scalability.
Pix supports various transaction types. In Q1 2025, 46% were person-to-person (P2P), 41% were person-to-business (P2B), and 9% were business-to-person (B2P).
It has also become a major tool for financial inclusion. By late 2022, Pix had helped over 71 million people access the financial system for the first time.
Pix is now central to Brazil’s payment infrastructure. It offers speed, security, and low cost, while helping reduce dependence on cards and cash.
Local actors
Pix – Launched by the Central Bank of Brazil in 2020, Pix enables instant, 24/7 fund transfers, becoming the country’s most used payment method by 2024.
Banco do Brasil – As a major public bank, Banco do Brasil integrates Pix into its services, offering seamless instant payment solutions to its customers.
Itaú Unibanco – One of Brazil’s largest private banks, Itaú Unibanco provides comprehensive digital banking services, including Pix-enabled transactions.
Bradesco – Bradesco supports instant payments through Pix, enhancing its digital banking offerings for both individuals and businesses.
Nubank – A leading digital bank in Brazil, Nubank offers user-friendly mobile banking with integrated Pix functionality for instant transfers.
Banrisul – A regional bank serving southern Brazil, Banrisul incorporates Pix into its digital services, facilitating instant payments for its clients.
PagSeguro – A fintech company offering digital payment solutions, PagSeguro integrates Pix to provide instant payment options for merchants and consumers.
PicPay – A popular digital wallet in Brazil, PicPay allows users to make instant payments and transfers via Pix within its mobile app.
Mercado Pago – The financial arm of Mercado Libre, Mercado Pago enables instant payments through Pix, supporting e-commerce transactions across Brazil.
RecargaPay – A mobile payment platform, RecargaPay offers various financial services, including the ability to perform Pix transactions for instant payments.
Payment by installment and BNPL
Installment payments have been part of Brazil’s commerce for decades. Consumers often split purchases into monthly payments, especially for electronics, appliances, and travel. This model, known locally as “parcelamento,” remains popular in both in-store and online shopping.
Since 2020, new actors have disrupted the space. Buy Now, Pay Later (BNPL) solutions gained traction by offering credit-like flexibility without a traditional credit card. These services target younger consumers and unbanked or underbanked segments. In many cases, they are easier to access than credit cards and more integrated into digital checkouts.
By 2025, BNPL usage in Brazil continues to rise. A study from ResearchAndMarkets estimates that the local market will grow by 14% this year, reaching USD 4.66 billion in transaction value. Most BNPL users in Brazil favor interest-free short-term installments over revolving credit lines. Acceptance among e-commerce merchants has passed 50%, especially in sectors like fashion, electronics, and furniture.
The Central Bank is now supporting this shift. In September 2025, Brazil will launch “Pix Parcelado“, a new Pix feature allowing consumers to pay in installments while merchants receive full payment instantly. This public infrastructure could accelerate BNPL’s reach by reducing friction for both sides of the transaction.
Meanwhile, a range of fintechs and banks compete in the BNPL space, some focused on consumers, others on business-to-business (B2B) trade. Providers now embed their services directly into checkout flows, ERPs, or supplier platforms.
B2C BNPL Providers
Addi – A Colombian fintech offering interest-free installment payments in Brazil, integrated with Pix to enhance accessibility.
Koin – A pioneer in Brazil’s BNPL sector, Koin provides installment payment options integrated with Pix and Boleto, catering to both online and offline retailers.
Provu – Formerly known as Lendico, Provu offers digital installment solutions, enabling consumers to make purchases without a credit card.
Pagaleve – Offers interest-free installment payments, focusing on consumers without credit cards and aiming to enhance financial inclusion.
Cleo – Expanding its BNPL services in Brazil, leveraging installment-based solutions to drive consumer adoption and enhance payment flexibility.
NuPay (Nubank) – Nubank’s BNPL platform, accepted by a significant portion of retailers using fintech BNPL solutions, currently available only to Nubank clients.
B2B BNPL Providers
Dinie – Focused on micro, small, and medium-sized enterprises (MSMEs), Dinie offers embedded financial services, including BNPL solutions, to enhance business cash flow.
Tino (formerly TruePay) – Provides deferred payment solutions for B2B transactions, allowing retailers to purchase goods from suppliers with extended payment terms.
Payment by digital wallet and X-Pay
Digital wallets have become a cornerstone of Brazil’s payment ecosystem, offering consumers seamless, secure, and versatile transaction options. By 2025, one in three Brazilians regularly uses a digital wallet, not only for payments but also for a wider array of financial services.
The widespread adoption of smartphones and the success of Pix have accelerated this trend, enabling digital wallets to integrate features like QR code payments, peer-to-peer transfers, and financial services such as loans and investments.
Additionally, global X-Pay solutions like Apple Pay, Google Pay, and Samsung Wallet have expanded their presence in Brazil, further diversifying the digital payment landscape.
Key Local Digital Wallet Providers
Mercado Pago – As the financial arm of MercadoLibre, Mercado Pago provides digital wallet services that facilitate online and in-store payments, as well as access to credit and investment options.
PagSeguro (PagBank) – PagSeguro offers a digital wallet integrated with its PagBank platform, enabling users to perform transactions, manage finances, and access a range of financial products.
RecargaPay – RecargaPay caters to both banked and unbanked populations, allowing users to pay bills, recharge mobile phones, and perform other transactions through its digital wallet.
Nubank – Nubank’s digital wallet is part of its broader fintech ecosystem, offering users the ability to manage their finances, make payments, and access credit services through a user-friendly app.
AstroPay – AstroPay provides a global digital wallet that supports online payments, virtual and physical debit cards, and peer-to-peer money transfers, catering to a diverse user base.
Swap – Swap specializes in Banking-as-a-Service (BaaS) solutions, enabling businesses to launch their own financial products, including digital wallets, under their brand. In 2025, Swap received authorization from the Central Bank of Brazil to operate as a payment institution, further solidifying its position in the fintech infrastructure space.
Samsung Wallet – Samsung Wallet enables users in Brazil to store payment cards, loyalty cards, and digital keys, facilitating secure and convenient transactions through Samsung devices.
If the payment methods in Brazil intrigue you, feel free to access the #PayWorldTour library for more insights.
