Brazilians are very keen on digital technologies and the numbers are here to prove this. Over 160 million have access to the internet – and, from this group, 98% own a smartphone, according to the Digital in 2021 report.
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This is why the success of Pix – although surprising due to accelerated adoption – is not unexpected. In only six months, over 75 million have already used the instant payment method to send or receive money.
When WhatsApp Pay arrived in Brazil in May 2021 – close to Pix’s six-month anniversary – the expectations were that this technology would also have a meaningful adoption by Brazilians and even compete with Pix. However, the numbers so far show a different reality.
Pix or WhatsApp Pay?
According to the study Mensageria no Brasil, only 7% of WhatsApp users in Brazil have registered their debit cards on the app. Further, 70% said they knew about the feature, but hadn’t registered their cards, and 23% said they weren’t aware of the new resource at all.
The main reason not to register their debit cards is lack of interest: half of the users that don’t use WhatsApp Pay own a debit card but don’t want to try out the service. Another 33% revealed the main reason was they felt unsafe to provide their credit card information to the platform.
On the other hand, Pix shows a high approval rate. According to the study Pagamentos Móveis e Comércio Móvel no Brasil, 73% of Brazilians that access the internet and own smartphones have already made a Pix transfer. In addition, 95% of this group considers themselves satisfied with the service – proving Pix is still a favorite among Brazilians.
Despite the initial low adoption, the app might still win Brazilians over after new features are available, such as the option to carry out payment with credit cards.