Brazil: mobile payment users 2025

Although the user count of the MercadoPago app is expected to increase four-fold between 2020 and 2025, it would still have less users than fintech PicPay. This according to a forecast made in Q2 2021 on how many people in Brazil would use specific apps for mobile payments. Noticeable for this particular country is how popular both PicPay and MercadoPago are compared to PayPal. Brazilian P2P fintech PicPay allows a user to connect a credit card to its app, so it can be used either for P2P payments to friends or family, B2C payments in retail or to withdraw money from ATMs. The app also features its own creditcard, e-commerce and social networking options. This is somewhat different from MercadoPago, originally a payment solution offered on the platform of - what some call - "the Latin American Amazon" MercadoLibre but that later was made available to mobile point of sale machines from SMEs in Brazil. Most of the revenue of the Argentinian e-commerce giant comes from Brazil.

Number of users of selected mobile wallets in Brazil in 2020, with forecasts from 2021 to 2025 (in millions)

Characteristic	PicPay	MercadoPago	PayPal	RappiPay
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-
-	-	-	-	-

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Release date

October 2021

More information

Region

Brazil

Survey time period

May 2021

Special properties

The source does not provide any information regarding consumers using more than one app at the same time. It may, therefore, be that the total users of all apps combined is higher than the country's population

Supplementary notes

The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."

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