Shoppers in the country routinely use their smartphones instead of cash or a conventional credit card.
In Brazil, nearly half of all shoppers are using a mobile wallet to complete transactions in brick-and-mortar stores.
This is pushing merchants and retailers to ensure that they have the necessary tech to accept payments.
With the rapid growth of mobile wallet transactions in Brazil, businesses are finding increasingly vital to ensure that they keep up with technology so that they won’t lose business. A substantial percentage of customers clearly expect to be able to pay with their phones and failing to let them do so could cause those customers to walk away.
This, according to recent findings from a collaboration between PYMNTS and Cybersource, which were published in “The 2022 Global Digital Shopping Playbook”. The collaboration included a survey of 13,114 customers as well as 3,100 merchants from six different countries. Those countries were the United States, the United Kingdom, Australia, Mexico, the UAE and Brazil.
A projected 20 million Brazilian shoppers use a mobile wallet while shopping in person in store.
The use of mobile payments in Brazil was higher than the usage of the technology in four of the other countries included in the survey. The only country that had a higher rate of phone use for completing payment transactions in brick-and-mortar shops was the UAE. That said, the average among all the consumers who took the survey, regardless of where they lived, was 33 percent.
Brazilian shoppers were using their smartphones for reasons other than payments while shopping in brick-and-mortar stores. The survey also showed that they routinely consulted their devices to learn more about products they were considering, to search for offers and discounts, and to compare prices with other stores.
Approximately 53 percent of consumers in Brazil, about 33 million individuals – use their smartphones at least one time at some point throughout their in-person shopping experience. That could be to compare prices online, to learn more about a product, to find a better deal, or to use a mobile wallet to complete their payment transaction when they make a purchase.
