Top 5 Payment Providers Offered by Brazilian Online Stores 2023

Which eCommerce Payment Method Dominates the Brazilian Market in 2023?

In the Brazilian eCommerce landscape of 2023, payment provider penetration showcases a clear hierarchy dominated by traditional card services. Mastercard leads the pack with an impressive 98.2% penetration, closely followed by VISA at 98.0%. These high penetration rates highlight the entrenched trust and widespread acceptance of these providers within the Brazilian eCommerce market. American Express holds a significant presence as well, with a penetration rate of 87.1%. This indicates a strong preference among Brazilian businesses for established international payment solutions. Elo has achieved a penetration of 84.8%, reflecting the growing popularity of this local card provider. Boleto Bancario, a cash on delivery option, trails with a penetration of 72.4%. The data from 2023 illustrates the evolving digital payment landscape in Brazil, with traditional card providers maintaining dominance, while newer digital methods like Boleto Bancario carve out substantial niches, driven by consumer demand for convenience and innovation in payment technologies.

Main Facts: Dominant Payment Providers in Brazil's eCommerce Market 2023

• Mastercard and VISA dominate the Brazilian eCommerce market in 2023 with penetration rates of 98.2% and 98.0% respectively.
• American Express follows closely behind with an 87.1% penetration rate, securing a strong position in the market.
• Elo and Boleto Bancario round out the top 5 payment providers with penetration rates of 84.8% and 72.4% respectively, showcasing the diverse payment options available to Brazilian consumers.