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Brazilian e-commerce chooses credit card over PIX

Acceptance of PIX by online stores still needs more clarity regarding operation rates and the suitability of the technological interface

PIX smartphone
Photo: Shutterstock

PIX, the Brazilian Central Bank’s instant payment system, debuted four months ago with excellent receptivity – in three months, 77.65% of Brazilians have already registered a key (a kind of a PIX user registration) to use it -, but a survey commissioned by payment authentication startup IDid shows that when it comes to e-commerce the credit card still leads as the favorite payment method for retailers, being accepted by 98.3% of e-commerces, while PIX is accepted in only 16.7% of online stores.

The survey analyzed 60 of the biggest players in online sales (including Americanas, Amazon, iFood, Decolar, and Netshoes) and showed that the credit card is the most accepted payment method for retailers, followed by boleto (normally translate as cash voucher or bank slip), present in 75% of online stores.

READ ALSO: Brazilian Central Bank increases limit for transfers and payments via PIX

Next up are wallets and debit cards, payment options in 50% and 38.3% of online stores, respectively. Only 16.7% of the evaluated e-commerce offer PIX as a payment method. The 10 retailers present in the sample who accept PIX are part of the fashion, food, pets, electronics, and airline segments.

Gastão Mattos, IDid head in Brazil, explains that PIX still has low acceptance in e-commerce due to doubts about fees. “The advantage for the consumer is clear, but not for the shopkeeper. The pricing for receiving PIX is not fully defined, and the charge of 1.6% of some banks does not seem to be so attractive, since large stores pay less than that for accepting the debit card.”

READ ALSO: Handling of salary accounts via PIX is the Central Bank’s bet for 2021

Besides, according to IDid, PIX requires a more sophisticated technological interface, which includes confirmation of inventory availability and anti-fraud analysis for payment confirmation.

Credit card and boleto are the most popular payment methods in Brazilian e-commerce

According to GMattos, a consultancy focused on e-commerce and payment methods that did the research, the credit card is the payment method most accepted by Brazilian e-commerce because it has two authorization phases, which allows confirmation of the inventory and purchase risk analysis. The credit card is also the favorite of consumers.

READ ALSO: Almost half of the transactions via PIX are made in non-business hours in Brazil, says Nubank

Traditional Brazilian boleto appears at second for being a payment method that also includes consumers who are unbanked or who do not have a credit card. The survey reveals that only 10% of purchases made with this payment are completed.

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