Brazil Profile: Brazil Online Shoppers Shaping Digital Payment Services

19 Oct, 2020 . 4 minutes

Brazil’s population was estimated at 211.4 million at the end of 2019. The biggest online spenders are in the 25-years-to-34-years age group at 31.9 percent. Brazil has been broadening access to ecommerce during the Covid-19 pandemic. Brazil expected 135,000 B2C ecommerce businesses to operate as the number of digital shoppers is expected to reach 130 million shoppers by the end of 2020 from 31.4 million shoppers in 2019.

Brazil’s internet penetration took 70.7 percent of the population and smartphone penetration stood at 37 percent in 2019. Mobile commerce is at 32 percent of the overall ecommerce market worth US$7.6 billion as at the fourth quarter of 2019. Meanwhile, 17 percent of econsumers are cross-border shoppers mostly purchasing from the US, China and Hong Kong. 

Cards are the most favoured online payment method with 59 percent of transactions. Digital wallets are on the rise and used in 27.7 percent of transactions. Meanwhile, with a third of the population without bank accounts, cash use is high and employed in 23 percent of online transactions. Also, the growing needs of Brazilian cross-border shoppers for digital payments offers opportunities for card providers and digital payment companies. 

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