Over half of Brazilians have already made an online purchase with Pix, as shown by research carried out by PagBrasil and E-commerce Brasil.
The survey was carried out between May 14th and July 2nd of this year and included the participation of Brazilian men and women, the respondents being mostly merchants from the B2C universe (46%), but also merchants who sell both in B2C and in B2B (29%) and B2B (16%). The percentage difference reflects industry professionals who are not merchants. Among those questioned, 93% revealed having made an online purchase in the last 30 days. Thus, participants responded as merchants and as consumers.
Main highlights of Pix usage in ecommerce
Among the participants, 55.4% said they have already made an online purchase with the instant payment. In addition, 58.9% said they had given up on a purchase because of the lack of payment options.
For Brazilian consumers, instant payment confirmation is the main benefit
For 55.4% of consumers, instant payment confirmation is the main benefit when shopping online. On the other hand, 17.9% of consumers said they don’t see any benefit when shopping with the instant payment method. For 12.5%, the best aspect is how easy it is to pay with this payment method. This group says that they find paying with Pix easier than using other payment methods.
For customers, instant payment confirmation represents a great advantage: if the payment is confirmed quickly, this means their purchase will arrive faster. For merchants, the fast payment confirmation avoids stock retention, optimizing the operation. Further, if consumers are paying for a digital product or service, the experience is even better, since the payment method provides instant access to the purchase.
When compared to other payment methods, Pix is, today, the only payment method that offers this benefit. Not even credit cards guarantee instant payment confirmation, as in some cases, the payment must go through antifraud analysis.
Over 30% already offer Brazil’s instant payment in online stores
Among the participants, 32.1% said they already offer the payment method in their online stores. However, 16.1% said they haven’t yet implemented the feature because there are no solutions in the market that integrate with their ecommerce websites.
To help digital businesses increase their sales and reduce operational costs, PagBrasil launched, in February 2021, PagBrasil Pix: an optimized solution for online stores. Further, PagBrasil was the first payment processor to make the feature available to merchants that use Shopify ecommerce platforms.
Dynamic Pix or Manual Pix?
There are two ways ecommerce businesses can offer Pix as a payment method: one of them is by generating a dynamic Pix, where the QR code or Pix code is automatically generated at the checkout page, enabling an instant payment confirmation. And the other way is through a manual Pix, where merchants provide their Pix Key – usually the company fiscal number in Brazil (CNPJ) – and requests customers send the proof of payment via email or WhatsApp. In these cases, the merchant must confirm the payment manually.
According to the research, 23.2% of participants offer the dynamic Pix, and 10.7% said they offer the manual Pix. Another 23.2% said they do not offer the instant payment yet, but intend to in the next few months.
Is your online store ready to receive instant payments in Brazil? Get in touch with our sales team and boost your sales in Brazil with PagBrasil Pix!