The PayRetailers payment solution in Brazil

Payment Solution For eCommerce - PayRetailers

Currently, PayRetailers is active in 12 Latin American countries. Brazil was one of our first entry markets and at the same time it is the biggest. Over the course of the last years we created one of the most complete payment solutions for the region while providing one of the easiest integrations in the business. In this article we shed light on our activities in Brazil, give you some numbers and hope that you consider PayRetailers for your expansion plans into Latin America.

Market overview of Brazil

To start off we need to put Brazil in context with other countries to show that it has an enormous potential of doing business. The population sits at 212m which makes Brazil by far the largest country in Latin America and the sixth most populous country in the world.

The number of unique online-shoppers amounts to 43m people which makes for a percentage of 32% of all online shoppers in the whole region of Latin America. The online sales revenue for 2021 is expected to reach 26bn USD while the e-commerce market-growth has been forecasted to be 17% for 2021. These revenue and growth numbers put Brazil in the top ten worldwide.

A Brazilian person has spent on average 461 USD in 2020 which shows a growth of approx. 23% compared to the previous year. At the end of 2020 the e-commerce revenues accounted for 8% of all retail revenues in the country. This is a doubling compared to 2018.

Due to the high smartphone and internet penetration, 70% and 67% respectively, in Brazil, in 2020 already 91% of smartphone owners have at least once ordered something via their smartphone. The most popular categories for online orders are meals, food and clothes.

Payment landscape in Brazil

Now we know the numbers of people and their spending habits, but what about the used means of payment?

Credit cards play the biggest role for online payments, with a share of 60% of all means of payment. 36% are domestic cards and 24% international. They are followed by cash payments with 19% share, e-wallets with 14%, debit cards and bank transfers with both 3%, and 1% other forms of payment.

As for cash payments the Boleto Bancário is the single most popular one – a piece of paper with a barcode and written transaction details, that looks like a form of a receipt. Over the course of the last years this form of payment has been replaced more and more by modern payment solutions, due to it being slow in settlement with 3-4 days, and its need for physical activity visiting a shop that accepts this payment type. Although many banks accept Boletos via online-banking, the process is still more time-consuming than using a credit card or other more recent payment types. It becomes apparent that people want to use the comfort of their smartphone and home to settle payments quickly and easily.

For Brazil, PayRetailers currently supports all payment channels: online, cash and card. For online most of the banks are supported, like Banco do Brasil, Bradesco, Itaú, Banrisul and Santander. The other online types are TED, PIX and Boleto PIX. As for cash payments we offer Boleto, PIX and Boleto PIX. For card transactions our solution supports VISA, Mastercard, ELO and hipercard.

PayRetailers is subject to enormous growth

Currently, we are active in 12 Latin American countries, and use an integration approach that makes it very easy for new clients to implement our vast suite of payment types into their system with just one single API. Our portfolio consists of over 500 clients, with a wide distribution across most of the sectors.

After starting our business, the first companies that used our solutions have been active in the sectors of multi-level marketing, SaaS, gaming, and betting. Over the course of the years, our technology has been developed and matured to cater for clients in the sectors of financial services, e-commerce, e-learning, ticketing and travel where we now see a giant influx of new clients. We especially see a growing number of companies from the outside of LATAM that want to gain access to the big market opportunities in Brazil, mainly from the US and EU.

Year-on-year our revenue growth has consistently been higher than 500% due to our exceptional product-market-fit and our stellar client support. We see a monthly transaction traffic growth of over 500k transactions which is accompanied by an average monthly traffic growth of 25%.

Brazilian markets in the future

All signs point towards a very bright future for the Brazilian market. The pandemic has accelerated the shift from cash payments to online payments. Furthermore, the financial inclusion and education enjoy strong tailwinds.

PayRetailers will make your entry into Brazil easy and enjoyable. Please contact us for more information.