Card industry is about to defy PIX. Or so it says
Merchants’ acceptance of Brazil’s instant payment system PIX is growing and forcing competitors to adapt. Meanwhile, online shoppers’ use of debit cards — which never really took hold in the country — dropped 20.4 percent in 2022, with credit card offers in the country looking close to their peak.
State of play. The digital experience of PIX — adopted by Brazilians from all social strata at an astounding pace — is getting better than the in-person experience, which makes e-commerce a more challenging payment battleground.