Brazil ranks second in the world for the use of instant payments

The Prime Time For Real-Time Report survey points out that Brazil took second place in the world ranking of countries that used instant payments in 2022.

ACI Worldwide – a company in payment systems – in partnership with GlobalData – a data analysis and consulting company, conducted the study.

On Wednesday 19, the Central Bank (BC) released a note stating that 29.2 billion transactions were made in the country, corresponding to 15% of the world total.

“In a little over two and a half years, Pix has put Brazil at the top when it comes to instant payments,” said the Central Bank.

Leading the ranking is India, which registered 89.5 billion transactions during the same period.

In Brazil, with the success of Pix, the number of instant payments jumped 228.9% between last year and 2021, a higher growth than in India, which was 76.8%.

In addition to the two countries, China is among the largest global markets in the number of instant payment transactions in 2022, with 17.6 billion.

Among the top 5 are Thailand, with 16.5 billion transactions, and South Korea, with 8 billion.

Overall, instant payments accounted for 195 billion transactions last year, 63.2% more than in 2021.

The forecast is that in 2027 this number will reach 511.7 billion and could represent 27.8% of all electronic payments worldwide.

With information from Estadão