Brazil Payment Processing: What you need to know to Succeed in Latin America's Largest Market
Brazil, the largest country in Latin America with a population of over 215 million people, is a diverse and rapidly growing economy. Known for its agriculture, energy, mining, manufacturing, and services sectors, Brazil is a regional trade leader and a key player in global commodity markets and international commerce. The economy is evolving with increasing focus on technology, digital finance, e-commerce, and fintech innovation.
Brazil is a global leader in agricultural exports, producing soybeans, coffee, sugar, beef, and orange juice, and contributes significantly to energy, mining, and industrial production. The services sector, including finance, tourism, digital payments, and e-commerce, drives economic growth and financial inclusion.
As a member of Mercosur, Brazil benefits from regional trade agreements, cross-border commerce, and investment opportunities, while maintaining strong export relationships with China, the United States, Argentina, and the European Union. Trade and investment policies encourage foreign direct investment, fintech growth, and digital innovation.
Brazil faces economic challenges including inflation, fiscal deficits, and currency volatility, with inflation reaching around 4.5% in 2023. The Central Bank of Brazil (BCB) implements monetary policies to stabilize the currency and support sustainable economic recovery. Urban unemployment hovers around 8-9%, with youth unemployment as a persistent concern.
Digital transformation is accelerating, with growing adoption of PIX instant payments, mobile wallets, QR-code payments, and contactless transactions. Fintech companies and digital payment providers are expanding rapidly, supported by a tech-savvy population and high internet penetration.
Sustainable development and renewable energy are national priorities, with investments in wind, solar, hydro, and bioenergy driving green growth, innovation, and clean technology adoption. Brazil’s strategic focus on modernization, digital finance, and global trade integration positions it as a prime destination for investment, e-commerce, and international payments.
Top banks
Banco Itaú
Over 99 years, we have built our history, which has been marked by a number of mergers, acquisitions and partnerships that have shaped us into a universal bank. Against a backdrop of intense technological and regulatory changes and a market scenario with new players and different service demands, we are constantly innovating, keeping a careful eye on diversity and laser focus on clients and continuous learning. Our purpose is to stimulate people’s power of transformation. Our vision is to be the leading bank in sustainable performance and customer satisfaction.
Banco Bradesco
Bradesco is one of the largest financial groups in Brazil, with a solid performance focused on the interests of its clients since 1943. In addition to excellence in services, it stands out for being one of the best resource managers on the market, with results built on sustainable foundations.
Banco do Brasil
Banco do Brasil S.A. is a Brazilian financial services company headquartered in Brasília, Brazil. The oldest bank in Brazil, and among the oldest banks in continuous operation in the world, it was founded by John VI, King of Portugal. It is the second largest banking institution in Brazil, as well as the second largest in Latin America after Banco Itaù with the total asset of 379.78 billion dollars.
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Caixa Geral de Depósitos (CGD)
CGD has been at the forefront of Portuguese economic and social development. Based on a strong corporate culture and the highest ethical standards, rigor and professionalism, CGD has received over the years various awards and is recognized as a highly reliable, solid bank in Portugal’s banking sector, having merited the confidence of its many generations of costumers.
Top payment methods
Key Payment Methods in Brazil:
Here’s a breakdown of the most important methods — knowing when and how to use each is essential for maximizing conversions.
PIX
PIX is an instant payment method in Brazil that has been widely adopted by 32% (67 million) of Brazilians. PIX allows for immediate processing of payments, as opposed to the traditional 3 business days wait. PIX works by generating a code, which can be used to make payment at the closest store or through a mobile app. PIX is versatile, it allows for the transfer of funds between people and companies, payments can be used to make purchases, pay bills, send and receive money. It's a very useful tool for people and companies to manage their finances and make transactions quickly and easily.
ITAÙ
Largest private sector bank in Brazil. Offers online and app-based payment systems. Services include automatic scheduling, payments, transfers, and payment tracking. Receipts are held for up to five years.
ELO
Elo is one of the major domestic debit and credit card brands of Brazil. The scheme supports credit, debit and prepaid transactions, is the third in market share in Brazil following Visa and Mastercard, and has international acceptance over Discover network. The scheme is processed and settled by Adyen over it's own license connection.
MercadoPago
Mercado Pago, is the online payment tool created by Mercado Libre in 2003 that is growing by leaps and bounds. It allows you to sell and buy both in online and physical stores. Mercado Pago is a platforms who owns one of the greatest user bases in Latin American as it is present in 7 countries.
Paypal
PayPal, a leading online payment solution, serves over 400 million active users worldwide in 200 countries and supports 100+ currencies. In France, PayPal is one of the most popular digital payment methods for online shopping, trusted for secure, fast, and convenient online payments.
AURA
Aura is credit card payment solution developed for the brazilian market and one of the most popular online payment methods along with Hypercard and Elo. Aura allows consumers to pay ininstallments by choosing 3,6,9 or 12 monthly installments. The merchants receives payment instantly, but the customer can choose to pay via Aura in 3,6,9 or 12 installments. The card also enables recurring online payments. How does Aura work?
When a customer is ready to complete their purchase at the checkout, they can choose from different payment options. By choosing a credit card as their payment method, they are either directed to a special page or move along your checkout process to a place where they can add their card details. Most of the time, it’s the card brand, cardholder’s name, card number, expiry date, and security code. After putting in all those details, customers can make their initial payment to Aura. This payment is followed by others depending on the payment scheme the customer chooses. Merchants receive funds instantly.
Concluding remarks
Cash
Cash remains important, especially for smaller vendors and informal markets. Boleto Bancário, a barcoded ticket paid at banks, ATMs, post offices, or lottery agencies, dominates 75% of cash-based transactions. This method is crucial for customers without credit cards or who prefer offline payment options.
Credit/Debit Cards Brazil:
Visa, Mastercard, Amex, plus local brands like Elo, Aura, Hipercard
Alternative Payment Methods (APM)
Brazil has a thriving APM ecosystem, including PIX instant payments, mobile wallets, and bank transfers. PIX enables real-time, 24/7 transfers with low costs, driving financial inclusion and e-commerce growth. Popular wallets include PicPay, Mercado Pago, and Nubank, which facilitate online shopping, peer-to-peer payments, and digital wallets.
Cryptocurrency
Crypto adoption is growing among tech-savvy consumers and e-commerce users. Leading platforms like Binance, Mercado Bitcoin, and Foxbit allow Bitcoin, Ethereum, and stablecoin payments. Businesses use crypto for cross-border transactions, while consumers use it as a hedge against inflation and currency volatility.
About Processing News
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The global payments industry evolves faster than ever — powering everything from digital banking to eCommerce transactions. Yet few truly understand how payment processing, fintech innovation, and financial technology shape the world economy. That’s where Processing News comes in. At Processing News, we don’t just report on the payments ecosystem — we’ve built, run, and innovated within it. Our team of experts includes former fintech executives, payment system architects, compliance officers, and technology insiders who bring real-world experience to every article. We launched Processing News to be the Wikipedia of Payments — accessible, in-depth, and always accurate. In an era of clickbait and recycled press releases, we deliver trusted payments journalism rooted in industry expertise and data-driven analysis. Whether it’s new payment regulations, card network updates, emerging fintech startups, or fraud prevention trends, we provide clear, credible insight into what truly drives the global payment processing industry.
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