The e-commerce market in Brazil swelled by 4 million new users during the COVID-19 pandemic. The market is valued at 36 billion dollars.
Brazil has 70% internet penetration with 43 million e-shoppers who spend an average of 450 dollars each per annum.
In Brazil cash payments dominate daily transactions. The Boleto system (Bancário, Rapido & PIX) is most popular, covering 25% of the whole cash payment market. In 2021 after just six months of operation, PIX already had 75m users throughout the country.
Access to banking
There are 48 million people in Brazil who do not use banking services but who nevertheless account for around 204 billion dollars of the country’s economy per year. The Boleto Bancário is one of the population’s preferred payment methods.