Welcome to our Tech Roundup, where we bring you the biggest stories in technology and innovation in Brazil and Latin America. This week: Brazil’s PIX appears to be one of the few payment methods capable of challenging credit card hegemony in e-commerce.
PIX will account for more than a third of e-commerce transactions by 2026, says Worldpay
This year’s Global Payments Report from FIS-owned Worldpay highlights Brazil’s instant payment system as a benchmark for so-called account-to-account (A2A) schemes, which are experiencing dramatic growth around the world and are expected to expand at an annual rate of 13 percent over the next three years.
State of play. Launched in November 2020, PIX’s participation in e-commerce transactions doubled in the following years, jumping from 12 to 24 percent between 2021 and 2022, according to Worldpay. More importantly, it is expected to account for 35 percent of all e-commerce payments by 2026.
- The company says it collected data from brands, acquirers, and other payment industry players for the report, in addition to surveying 48,000 consumers in 40 markets, without specifying how many were surveyed in each location.
Why it matters. Brazil’s PIX appears to be one of the few...
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