Digital payment adoption has significantly increased in 2020: the Covid-19 pandemic made consumers prefer online payments to avoid contact with cash. However, another element that has stimulated digital payments is Pix, Brazil’s new instant payment method.
With its debut on November 16, Pix has already transacted over BRL 83 billion in the first month of operation, with 92.5 million transactions overall. Further, according to research carried out by Banco BS2 and Opinion Box, 74% of entrepreneurs already find Pix is the most popular payment method – even more than cash (66%), credit card (60%), debit card (60%), TED (56%) and DOC (37%).
How Pix encourages digital wallet usage
Digital wallet usage will grow with Pix, as these apps also offer the instant payment method. EWallets, which were already a trend in payment methods, now attract users of different generations.
Read also: Digital wallet usage grows in Brazil
According to the global study Generation Pay, carried out by Savanta, 39.5% already use the technology daily. Combined with an instant payment method, free of charge, and available 24 hours a day, 7 days a week, the adoption of digital wallets should be accelerated with Pix.
Read also: Pix will stimulate mobile payment methods
Pix and digital wallets in ecommerce
With its success in P2P transactions, the market is also preparing to accept Pix in physical and online stores. With the instant payment method, making a digital payment in ecommerce stores becomes much simpler: simply scan the QR Code or use Pix Copia e Cola to make the payment. Find out how to make a payment with Pix on e-commerce on this page.
Offering Pix at the online store’s checkout allows businesses to include more people in ecommerce, since there is no need for a bank account to make an instant payment – an account in a digital wallet will do. In addition, Pix in ecommerce brings yet another great benefit for both merchant and user: with instant payment confirmation, the product is quickly released for delivery, reaching the destination faster.
PagBrasil Pix is
on the way
With PagBrasil Pix, your online store receives instant payments 24 hours a day, 7 days a week. Get in touch to learn more!