Core Insights - Brazil's instant-payment system Pix is projected to account for 50% of the nation's e-commerce transactions by 2028, surpassing credit cards [1][4] - Since its launch in late 2020, Pix has significantly reduced cash usage and, as of 2023, has outpaced the combined number of credit and debit card transactions [2][4] - The central bank of Brazil argues that it provides a neutral digital infrastructure, contributing to financial inclusion with over 70 million new users since Pix's introduction [3] E-commerce Market Dynamics - In 2022, Pix accounted for 42% of online purchases, slightly ahead of credit cards at 41%, with projections indicating Pix's share will rise to 45% by the end of 2023 [4] - By 2028, Pix is expected to lead over credit cards by 14 percentage points in the e-commerce market [4] - The introduction of a recurring-payments feature by the central bank has further strengthened Pix's position, with consumer payments to businesses becoming the largest transaction category [5] Consumer Behavior and Market Trends - Trust in Pix has increased among consumers, aided by its wider availability on e-commerce platforms [6] - Despite the growth of Pix, credit cards are expected to maintain a loyal customer base due to the popularity of interest-free installment plans in Brazil [6]