Brazil Fintech Mobile PoS Payment Market Size | 2019-2033

Brazil Fintech Mobile PoS Payment Market Growth and Performance

• Projections indicate that the Brazil fintech mobile PoS payment market size will hit US$ 1.81 Trillion in 2032, with an expected Compound Annual Growth Rate (CAGR) of 52.6%.
• The Brazil fintech mobile PoS payment industry value represented US$ 45.24 Billion in 2023.

Brazil Fintech Mobile PoS Payment Market Outlook

Brazil fintech mobile point-of-sale (mPOS) payment market is experiencing a significant transformation driven by digital payment innovations, a strong technological infrastructure, and shifting consumer preferences. The rapid adoption of the Pix instant payment system, launched by Brazil’s central bank, has played a crucial role in reshaping the country’s payment ecosystem. Pix has become the dominant digital transaction method, enabling real-time payments across businesses and consumers. The system’s integration with mobile POS devices has further streamlined payment processing, making transactions more seamless for merchants and customers alike.

With two-thirds of Brazilians owning smartphones and 92% having access to at least a 4G network, the country’s digital infrastructure supports the rapid growth of mobile-based financial solutions. High digital engagement levels, with Brazilians performing an average of 12 digital activities per day, have contributed to the widespread acceptance of mPOS solutions. The adoption of contactless payments has surged, with a 52.9% increase in the first half of 2024 compared to the same period in 2023. This trend is fuelling the expansion of mobile POS payment solutions, particularly among small and medium-sized enterprises (SMEs) looking for cost-effective ways to accept digital payments.

Brazil fintech market has seen significant advancements in financial inclusion through regulatory initiatives such as Open Finance. By September 2023, the Open Finance ecosystem had over 27 million customers and 41 million accounts participating in data-sharing frameworks, enhancing digital payment solutions. The introduction of Pix Crédito is expected to further boost credit accessibility, offering lower interest rates and flexible repayment terms, providing more financial opportunities for underserved populations. This initiative is anticipated to benefit mPOS adoption, as businesses can offer installment-based payments through digital channels.

Fintech companies are rapidly innovating by integrating Buy Now, Pay Later (BNPL) solutions with mPOS systems. Companies like Provu and Koin are leading this shift by providing installment-based payments, leveraging Brazil’s longstanding familiarity with “crediário.” Provu has launched BNPL-focused POS solutions for brick-and-mortar retailers, allowing customers to make purchases in up to 24 installments. Meanwhile, Koin’s “Boleto Parcelado” model enables installment payments through Brazil’s boleto system, further driving digital transactions. Both companies aim to democratize credit access, supporting small merchants and consumers in a market traditionally dominated by credit cards.

Recent industry developments, such as Afinz’s acquisition of Tappaggo, further illustrate the market’s evolution. Tappaggo’s technology transforms smartphones into full-fledged POS terminals, enabling businesses to accept credit, debit, and Pix payments while offering advanced features like payment splitting, recurring billing, and real-time transaction analytics. This strategic move highlights fintech firms’ focus on enhancing merchant services while differentiating themselves from traditional banks.

The e-commerce boom in Brazil is another key driver of mPOS adoption. Brazil e-commerce market reached a transactional volume of $276.9 billion in 2023 and is expected to grow by 51% to $500 billion by 2026. Mobile commerce dominates online shopping, accounting for over 70% of purchases. With Pix already responsible for 45% of all payments and a third of e-commerce transactions, mPOS solutions are increasingly integrated with digital shopping experiences, helping merchants provide frictionless checkouts both online and offline. This trend is reshaping the competitive landscape, with major digital banking players such as Nubank, Mercado Pago, and PicPay leveraging mPOS technology to expand their merchant service offerings.

Brazil fintech ecosystem continues to be a hub for innovation, with a growing number of companies investing in mobile payment solutions to meet the demand for secure, fast, and cost-effective transactions. As Pix continues to gain market share over traditional credit cards and cash, and as businesses adopt flexible payment models, the mobile POS payment segment is poised for exponential growth. With supportive regulations, a tech-savvy population, and increasing consumer preference for digital transactions, Brazil’s mPOS market represents a significant opportunity for fintech firms and retailers alike.

Brazil Fintech Mobile PoS Payment Market Scope