Brazil is setting new standards for digital payments. While this might come as a surprise to some, it doesn’t surprise me. I’ve personally witnessed Pix, Brazil’s instant payment system, flourish in just four years, rapidly becoming the most widely adopted payment method among Brazilians.
The instant payment service, created by the Central Bank (BC), is used by 76% of the population, followed by debit cards (69%). The data comes from the survey “O Brasileiro e sua Relação com o Dinheiro” (Brazilians and Their Relationship with Money), published by the BC at the end of 2024. In most parts of the world, fintechs, banks, and other payments companies grow by replacing cash payments. But here, that opportunity is already gone. Now, the only way to increase revenues is by innovating and building on top of the robust digital infrastructure that the BC has established through the Pix and Open Finance systems.
Pix is a central pillar of this transformation. Its impact is not only reshaping the payments ecosystem but also fueling financial inclusion and economic growth at an unprecedented scale.
As reported by outlets including Forbes, CNN Brasil, and Monitor Mercantil, Pix is expected to boost Brazil’s GDP by R$ 280.7 billion by 2028. Today, Brazil alone accounts for 75% of all real-time transactions in Latin America, a figure that reflects not only the rapid adoption of this technology but also underscores Brazil’s potential to shape the future of digital finance across the region.
Beyond the sheer volume of transactions (over 63 billion operations moving more than R$ 26 trillion in 2024 alone), Pix is driving a financial inclusive revolution. An additional 2.8 million people are expected to join the financial system by 2028 thanks to Pix, a significant achievement in a country where access to credit has traditionally been limited for lower-income groups.
To this day, about 60% of low-income Brazilians do not have a credit card. However, out of our 212 million inhabitants, over 160 million are Pix users. Many lack traditional credit cards but possess digital wallets or bank accounts. Thanks to Pix, these users are now part of the formal financial ecosystem, and critically, they are gaining access to credit through digital platforms.
What is most exciting is that we can now leverage Pix transaction data to create more inclusive credit scoring models. Instead of relying solely on traditional banking records, fintechs and financial institutions can assess creditworthiness based on real transaction behavior.
This shift promotes financial inclusion, offers new economic opportunities, and contributes directly to GDP growth. The study Sistemas de Pagamento Instantâneo e Competição por Depósitos, led by Professor Sergey Sarkisyan, reinforces this impact, indicating that Pix represents a welfare boost equivalent to a US$ 380 per quarter ‘deposit’ for consumers. This implies a 15% increase in Brazil’s GDP per capita (data available via Época Negócios and IstoÉ Dinheiro).
While expanding access to financial services for Brazilians is transformative, it’s equally important to extend this convenience to those visiting the country. With Brazil welcoming 3.7 million international tourists in just the first quarter of 2025, a 48% increase compared to the same period in 2024, enabling Pix payments for visitors from overseas is no longer just a convenience, but a strategic move to boost local commerce, tourism revenue, and overall economic activity.
Built on the Pix infrastructure, solutions like #PixRoaming allow consumers from abroad to shop in Brazil just like Brazilians do, using the same banking apps or digital wallets they already use in their home country.. On the other hand, #InternationalPix makes it possible for Brazilians to use Pix when traveling outside the country.
The need for interconnected instant payment systems across countries is urgent. In Asia, this is already happening. In Europe, countries like Spain, Portugal, and Italy are working on it, and the Nordics have also made significant progress. Brazil has the chance to lead that trend Latin America.
The next frontier lies in expanding this success beyond borders, enabling seamless experiences not only for Brazilians but for anyone who interacts with our economy. Solutions like Pix Roaming and International Pix are paving the way, and there is still more to come. As the region’s largest and most dynamic digital market, Brazil has the potential to lead Latin America’s transformation toward a truly integrated financial ecosystem. The foundation is already in place.
Now, the question is: what will we build on top of this foundation? Share your thoughts in the comments section!
