The majority of brick-and-mortar retail consumers are willing to stop shopping at a shop if it does not offer the option of paying with Brazil‘s real-time payments PIX, according to new research by Capterra into the uptake of the payment system in Brazil.
Capterra heard 1,012 people from all regions of Brazil, aged 18+, through an online survey between 12 and 18 May 2021. To participate in the survey, respondents were required to have an active PIX key. The results are representative of the survey, but not necessarily of the population of Brazil as a whole.
According to the survey, 63% of consumers are likely, on some level, to abandon their purchase, while less than half (37%) said they would never stop doing business with a company if the PIX option was not available as a payment method.
The majority of respondents consider PIX adoption by physical retailers to be high or very high (42%), followed by 36% who consider it medium, and, finally, 22% who consider it low or very low.
There is a similar impression observed concerning e-commerce, as 43% of respondents see adherence to Pix as high or very high in this type of retail, 42% consider it average, while 14% believe it is low or very low.
In the survey, Capterra identified some PIX user behaviors when it comes to paying for their purchases in physical commerce:
● The majority of consumers (76%) prefer to pay for their purchases using a PIX key; on the other hand, 23% opt to do so via QR code.
● If the PIX was not available in the physical shop where the purchase will be made, 80% say they would resort to a credit or debit card.
● Regarding the type of company (small, medium, or large) that respondents trust most to make payment via PIX, 43% responded that this factor makes no difference.
However, even if the physical shop has signed up for Pix, the survey shows that this may not be enough for the customer, since most respondents (86%) stated that they prefer to have more payment options at the shops where they shop.
When asked what was the main reason for selecting PIX to pay for an online purchase, the most cited factor was practicality (38%). Next, consumers cited speed (32%).
In e-commerce, Capterra’s survey indicates that a large proportion of consumers are satisfied with the methods offered by shopkeepers.
Of those who are not satisfied, 68% commented that the reason for this perception is that companies have not been able to adapt to new payment methods.
Most people (43%) said they prefer to find out about accepted methods through the payment page when they are finalizing their purchase.
“With the emergence of new payment methods, consumers are making a turn towards options that seem more agile and convenient; in this case, digital and instant systems like PIX seem to be the choice of the hour,” explains Marcela Gava, an analyst in charge of the study.