Brazil P2P Payments Market to Witness Significant Growth at a CAGR of 15.1% through 2026

According to a new study by MarkNtel Advisors, the Brazil P2P Payments Market is expected to grow at a CAGR of 15.1% during the forecast period, i.e., 2021-26. Various technological changes are driving rapid transformation in the payment industry. The rising adoption of mobile payments & digital innovations is the key factor likely to boost the market in the coming years.

Further, the rising popularity of smartphones & tablets for everyday applications like bill payments, online shopping, & banking entwined with an increase in the young and tech-savvy population shall also propel the overall market growth in the forecast timeframe, further states the research report, “Brazil P2P Payments Market Analysis, 2021.”

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Key Questions Answered in the Study
1. What are the current and future trends in the Brazil P2P Payments market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across the Brazil, followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Brazil P2P Payments market?
5. What are the customer orientation, purchase behavior, and expectations from the P2P Payment service providers across Brazil?

Money Transfers & Payments Accounted for the Largest Share of Brazil P2P Payments Market
Based on the Type of Purchase, the market bifurcates into Airtime Transfer & Top-Ups, Money Transfers & Payments, Merchandise & Coupons, and Travel & Ticketing. Among these segments, Money Transfer & Payment captured the largest share of the P2P Market during 2016-2019 and is projected to grow at the highest CAGR during the forecast period.

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Money transfers & payments via mobile apps, SMS, or smartcards have increased significantly due to the launch of various instant payment solutions and an increasing number of mobile payments through debit & credit cards. Besides, during the pandemic, a rapid surge in online payments was observed due to consumers' augmenting inclination toward online purchases, such as grocery shopping, money transfer, etc.

“Brazil P2P Payments Market Analysis, 2021” highlights insights on the market potential & opportunities, along with business strategies to enhance the overall market growth. The report offers an overview of leading market players and their recent developments. Moreover, the report provides incredible market opportunities & emerging trends to help stakeholders make appropriate decisions before investing.
Short Message Service to Witness Significant Growth in the Brazil P2P Payments Market
Based on the Transaction Mode, the market bifurcates into Short Message Service (SMS), Mobile Apps, and Smartcard/NFC (Near Field Communication). Of these segments, Short Message Service (SMS) is rapidly gaining popularity in the Brazil P2P Payment Market. The payment link method had become very popular during the COVID-19 as this enables customers to pay remotely to the retailers for the goods & services they purchase. Moreover, Brazil witnessed around a 33% increase in transactions via a payment link between Oct-Nov, 2020. Hence, these aspects indicate the rapid growth of the Short Message Service (SMS) segment in the Brazil P2P Payments Market during 2021-26.

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Key Market Competitors:
According to MarkNtel Advisors, the leading industry players in the Brazil P2P Payments Market are Boleto Bancario, Boleto Flash, PagBrasil PIX, PEC Flash, Samsung Pay, Google Pay, and WhatsApp Pay.

Market Segmentation:
1. By Transaction Mode (Short Message Service (SMS), Mobile Apps, Smartcard/NFC (Near field communication))
2. By Location (Remote Payment, Proximity Payment)
3. By Type of Purchase (Airtime Transfer & Top-Ups, Money Transfers & Payments, Merchandise & Coupons, Travel & Ticketing)
4. By Application (Retail Payments, Travels and Hospitality Payments, Transportation and Logistics Payments, Others)
5. By Region (North, Northeast, South, Southeast, Central west)
6. By Competitors (Boleto Bancario, Boleto Flash, PagBrasil PIX, PEC Flash, Samsung Pay, Google Pay, WhatsApp Pay)

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We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

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