Market overview

The Brazilian e-commerce market is definitely noteworthy mentioning with its forecasted compound annual growth rate (CAGR) of 9.3 percent to 2023 and with its market was being valued at $23.8 billion in 2018. Also, Brazil is the most populated country in Latin America with the average age of the public being 32 years old, this ensures the potential for growth for international e-commerce. [1]

Like any local market Brazilian one has its own features which needed to be taken into consideration while planning the market entry:

1. Brazilians prefer to shop and pay via smartphone, in 2019 $7.6 billion have been expended via mobile devices and $3 billion were spent in-app. [2]

2. The Brazilian government is implementing open banking and has also launched - PIX, a payment system, which allows consumers and companies to make money transfers 24 hours a day, seven days a week, without debit or credit cards.

3. Cards and Cash dominate the local payment market, although digital wallets are evolving and rapidly growing in Brazil which makes them an important part of the successful expansion of the market.

Payment methods


Although cards are the main payment method in Brazil for e-commerce payment, there are some features that needed to be taken into consideration:

  • International cards (Visa, Mastercard, AmEx, Discover, JCB) penetrate only 24% of the population, and a major part of those cards is automatically disabled from international purchases.
  • Domestic cards dominate with 36% of owners within the Brazilian population, howbeit it is possible for them to run on Brazil-only networks (brands like Elo, Aura, Hipercard, and Cartao MercadoLivre).
  •  Furthermore due to fear of fraud most banks have disabled an opportunity to pay online on debit cards.
Dominant part of the brazilians has a credit card, which can be used for online puchases. Also, kindly keep in mind that most of them are able to process transactions only in local currency.


Boleto is an official cash payment method that is regulated by the Central Bank of Brazil. If the customer decides to pay by using this method the voucher for the payment is created and downloaded. There are various ways, how to pay by using the created voucher:

  • It can be paid in ATM machines, banks, convenience stores, or supermarkets - this makes it possible to shop online for 35% of Brazilians, who don't have a bank account.
  • The voucher can be paid online via internet banking or by entering the barcode.
  • The customer can also schedule a payment while using this payment method
Kindly note that this method has advantages like lower fraud risk,it is impossible to create a chargeback and it has no credit limits.


PicPay is a Brazilian local payment method that constitutes a payment app, which allows its users to send and receive money, pay bills, store loyalty cards and discount coupons. The company has announced that it has reached the 60 million user mark, which makes it the largest digital wallet in Brazil. 

This payment method is accepted in more than three million stores throughout Brazil. Funds can be added to the account by using cards, bank transfers, and cash. While submitting a payment with this method the customer gets a code which is needed to be scanned by using the smartphone application.


With this payment, method customers are offered bank transfer payment methods as well as a cash payment method.

While paying with Santander customers needs to log in to their online banking environment, after that clients can review the payment details and authorize the payment. 

There are also two payment options available:

    A) is to pay via Santander online banking. The payment can be reviewed and authorized by the consumer, after which the confirmation is received by the merchant and the purchase can be delivered to the customer. 

    B) this option gives the customers availability to pay for the purchase in cash at a bank branch. Once the payment has been submitted, the merchant receives the confirmation and the purchase can be delivered.

Mercado Pago

This payment method operates according to a wallet principle where customers load their electronic wallet account, usually with cash, cards, or alternative local payment types, and then can shop online, buy mobile airtime or pay bills.

Customers can also make and receive QR code payments, as well as those via chat, mail, or social networks.

MercadoPago is designed to facilitate transactions both on and off the MercadoLibre's marketplace by providing a mechanism that allows its users to securely, easily, and promptly send, receive and finance payments online. MercadoPago is accepted by multiple platforms, including MercadoLibre, e-commerce, email, social network, and so on.


Caixa is a bank that is linked with the Brazilian Ministry of Finance, it is one of the largest banks in the country, as it reaches over 121.3 million Brazilians. It offers its customers international wire transfers and also online payments via internet banking.

Banco do Brasil

Banco do Brasil is also one of the most popular banks in the country and entries the hundred largest banks in the world. 

By accepting this payment method the merchant gives their customers an opportunity to check out securely with the bank transfers from the trusted bank. The consumer receives purchase information instantly, and operation is normally settled within 1-2 business days. It is also impossible to open a chargeback for the customer while paying by bank transfer with Banco do Brasil. 


Bradesco is also a payment method that offers bank transfers from the non-government-controlled, large private-sector bank in Brazil. According to the latest publications this bank has around 53 Million cards across the country.

While using this method customers log in to their online banking environment.  After they check the details of the purchase and authorize the payment, the funds are being credited directly to the payee’s account.


This payment method is also offering bank transfers from Banco Itaú. While paying the customer log in to their bank environment, where they check and confirm the payment, after that the funds are credited directly to the payee’s account.