Most used in-store (POS) payment methods in Brazil 2017-2023, with 2027 forecast
The majority of Pix' transaction volume is on a P2P basis, but is expected it will increasingly be used for the purchase of services and goods.
Most POS payments in Brazil were performed with cash until 2018, but the market share of credit cards had overtaken cash by 2022. Credit cards and debit cards combined made up more than half of all in-store payments in the Latin American country in 2021, although there was only a slight increase in their use since the coronavirus pandemic. A bigger shift can be seen at wallets, whose market share changed from three percent in 2019 to eight percent in 2020. This might have to do with the introduction of Pix - a real-time payments service that operates in both e-commerce and physical stores, through the use of QR codes.