Top payment methods in Brazil: how to optimize your digital business in 2024

Introduction

Brazil, one of the largest e-commerce markets in Latin America, has a variety of payment methods that businesses should be aware of to maximize their success in the country. Below, we offer a detailed guide on the main payment methods in Brazil, with their characteristics and how you can integrate them into your digital business to improve conversion and customer experience.

What are the most commonly used payment methods in Brazil?

1. PIX

PIX is one of the most revolutionary payment methods in Brazil, introduced by the Central Bank in 2020. It allows instant payments 24/7, which has driven its massive adoption by both consumers and businesses. It is fast, easy to use and has no fees, making it a preferred option for transactions of all kinds.

For companies, integrating PIX is not only a competitive advantage, but practically mandatory if they want to offer a widely used payment method.

Credit cards

Credit cards continue to be the dominant payment method in Brazil, accounting for a large share of online transactions. Brazilian consumers value interest-free installments, which allow them to finance their purchases over several months at no additional cost.

Among the most popular credit cards are Visa, Mastercard, Elo and Hipercard. An important aspect to consider is that consumers often use more than one card to make a purchase, splitting the payment among several to optimize their credit limits.

Debit cards

Debit cards are used primarily for immediate purchases and account for a significant portion of lower-value transactions. Although they do not offer the financing option of credit cards, they remain a safe and popular option for consumers who prefer not to accumulate debt.

4. Digital wallets

The use of digital wallets has grown considerably in Brazil. These platforms allow users to store money and make payments online without the need to constantly enter their card details. Among the most widely used are:

• Mercado Pago
• Google Pay
• PicPay
• PagBank

Digital wallets offer a secure and convenient experience, which explains their growing popularity.

5. Bank ticket

The boleto bancário is a traditional payment method that continues to be used by a significant portion of Brazilian consumers, especially those who do not have access to credit cards. Boleto allows users to make purchases online and pay in cash or by bank transfer at physical locations. Although its use has declined with the emergence of Pix, it is still relevant for certain transactions.

The relevance of offering installment payments in Brazil

One of the most outstanding features of the Brazilian market is the preference for interest-free installment payments, especially for higher-value purchases. This option allows consumers to finance their purchases in monthly installments without additional costs, which is very attractive in a country where credit is essential for many people.

Companies that offer this option tend to see an increase in the average transaction value, as consumers feel more comfortable making large purchases when they can pay for them in installments.

The importance of accepting payments in reais

For any international company that wants to operate in Brazil, it is essential to accept payments in Brazilian Reais (BRL). Offering prices in the local currency not only improves the user experience, but also increases the conversion rate by eliminating uncertainty related to exchange rates. Brazilian consumers prefer to see prices in their currency to better calculate final costs.

How Rebill can help you

Rebill facilitates the integration of all these payment methods for companies operating in Brazil. Our platform supports credit and debit cards , PIXdigital wallets and boletos bancáriosallowing your digital business to offer the most popular options among Brazilian consumers.

Advantages of using Rebill:

• Fast integration with the main local payment methods.
• Installment payments and the option to process multiple cards in a single transaction.
• Compliance with local regulations and maximum security in all transactions.

Conclusion

Brazil is a growing e-commerce market, with specific payment methods that companies must offer to optimize their sales. From PIX to credit cards with interest-free installments and boletos bancáriosFrom PIX to credit cards with interest-free installments and boletos bancários, it is key to offer a wide range of payment options to meet consumer preferences.

Rebill facilitates the integration of these methods, improving the customer experience and helping to maximize conversion in the Brazilian market.