Digital payments are becoming an increasingly common reality for Brazilians. With an average of 2.2 electronic devices per person in the country, according to a survey by FGV, it was only a matter of time before the population recognized the convenience of online transactions. This is evident in a recent study by the Brazilian E-Commerce Association (ABComm), which found that e-commerce sales reached R$ 44.2 billion in the first quarter of this year, reflecting a 9.7% growth compared to the same period last year.
Electronic payment methods offer significant advantages to consumers by allowing transactions to be completed in just a few clicks without unnecessary bureaucracy. Customers no longer need to leave a retailer's page to pay a bill at an ATM, for instance. A Mastercard study reveals that in Latin America, 77% of consumers have used digital payment methods in recent years, with 89% of Brazilians open to adopting new or unconventional options.
This shift presents a challenge for retailers. With so many virtual shopping options available, consumers may quickly abandon a purchase if their preferred payment method is not offered at checkout. According to research by Yampi, one of the primary reasons for cart abandonment is precisely this issue.
With that in mind, here are some key trends in digital payments for the upcoming year, helping businesses prepare for a successful 2025 while staying closer to their consumers.
Payment orchestration accelerating payment acceptance
There are over 1,000 payment methods available worldwide. For businesses looking to scale globally, integrating as many options as possible can be a major challenge. Since consumers use different payment methods based on their needs, retailers are under pressure to support multiple options to close sales successfully.
Payment orchestration solutions like Yuno help businesses manage this complexity. These solutions allow merchants to select which payment methods they want to offer—all from a single interface, just a click away. Traditionally, integrating payment methods one by one takes about 52 weeks, but with this technology, the process can be completed in just 2 to 6 weeks.
Continued expansion of Pix
Pix is the most popular payment method in Brazil, with a record 227 million transactions in a single day. It has also financially included around 70 million Brazilians, according to the Central Bank of Brazil. Pix is expected to maintain its dominance in 2025.
A recent announcement regarding Pix by Approximation (contactless Pix), expected to be available in all digital wallets by February 2025, will further enhance its functionality. This feature will provide most of the same benefits as credit cards, which remain popular due to their flexible payment terms.
Pix recently marked its fourth anniversary, having processed R$ 52.6 trillion in transactions between November 2020 and September 2024, according to the Central Bank. Last year, it facilitated 42 billion transactions—representing a 75% increase from the previous year. Given this growth trajectory, Pix is likely to continue expanding in 2025.
Credit cards maintain favorability
Despite Pix's widespread adoption, credit cards remain highly favored in Brazil. Data from the Brazilian Association of Credit Card and Services Companies (Abecs) shows that credit card transactions totaled R$ 2.4 trillion in 2023, reflecting a 12.1% increase.
One of the main reasons for the continued popularity of credit cards is the ability to make installment payments. This is a common practice in Brazil, where approximately 62 million people have installment purchases, according to CNDL/SPC Brazil. Credit cards also allow users to make purchases even when they don't have sufficient funds in their bank accounts at the time of purchase, thanks to credit limits set by financial institutions.
The rise of digital wallets
Convenience is the driving force behind the growth of digital wallets, which are now used by over 80% of Brazil’s population, according to Pymnts. Juniper Research estimates that digital wallet transactions could surpass $16 trillion globally by 2028.
Digital wallets stand out for their versatility, making online shopping easier for consumers. Unlike other payment methods that require switching between screens or logging into separate banking apps, wallets can be accessed instantly through smartphones and even smartwatches, enhancing the shopping experience.
A Yampi study indicates that complex checkout processes are responsible for 27% of cart abandonment cases in e-commerce. This issue is minimized when digital wallets are used, as they streamline the payment process.
With these trends shaping the future of digital payments, businesses must stay ahead of the curve to offer seamless, convenient, and efficient payment solutions that meet the evolving expectations of their customers in 2025. Want to reduce cart abandonment and optimize your checkout experience? Book a demo today and see how Yuno can help.
