Brazil should end 2025 with a turnover of US$418.8 billion | Dino

Conclusions are part of the consolidated report “A guide to global expansion for high-growth markets“, which concludes the first edition of a series of studies conducted by Nuvei, a global payments fintech company dedicated to mapping the performance and potential of emerging markets. Over the course of the year, the research analyzed eight prominent economies: Colombia, the United Arab Emirates, Brazil, South Africa, Mexico, Hong Kong, Chile and India.

In the Brazilian scenario, the report cites Pix, Mercado Pago, PicPay, Bank Slip (in decline) and PayPal as the main payment methods used in e-commerce. National credit cards account for 31% of transactions, while international credit cards account for 10%, and installment payment remains a widely adopted practice by consumers.

“For the Brazilian market, the learning is clear: instant payments have become a standard expectation, no longer an alternative,” says Juan Jorge Soto, General Manager of Nuvei América Latina. “Fraud rates have improved, but technologies such as tokenization and advanced authentication are still key to maintaining security and efficiency in transactions.”

According to Nuvei, companies that want to expand their operations in this sector need to offer local payment options, such as Pix, national credit cards and digital wallets, as well as enable installments and prices in Brazilian Real (BRL). Using QR codes across Pix increases sales conversion, while tokenization and device fingerprinting are essential to controlling fraud and improving approval rates.

Globally, the study reveals that the total volume of e-commerce in the eight markets analyzed reached US$908.4 billion, with expectations that it will almost double by 2027 to reach US$1.2 trillion, representing an average annual growth of 19%.

Among the countries surveyed, Brazil stands out as the largest digital market, generating US$418.8 billion. This is followed by India ($212.9 billion), Mexico ($125.7 billion), Colombia ($61.4 billion), and Chile ($39.1 billion). In the UAE, cards and digital wallets remain dominant, while in South Africa, the recently launched PayShap service has begun to promote financial inclusion.

The emergence of local payment systems, such as Pix in Brazil and UPI in India, is cited as one of the main factors behind this jump. Both models have become global references in the field of instant payments, serving as an example for new initiatives in countries such as Mexico (DiMo) and Colombia (PSE).

The report also highlights that the eight markets analyzed comprise nearly two billion people, more than half of whom are under the age of 35, a generation that was born digital, buys online by default and is shaping the future of global e-commerce. Their digital economies are growing at a rate of more than 10%, driven by young and connected consumers, expanding middle classes, and public policies to achieve financial inclusion.

This movement has been fueled by government initiatives, open banking regulations and innovations led by central banks, such as Pix itself and UPI, which have reduced dependence on physical money and integrated millions of people into formal digital ecosystems. According to the International Monetary Fund, emerging economies are expected to grow by 4% on average annually between 2024 and 2029, more than double the growth of advanced economies.

“E-commerce is expected to exceed US$1.2 trillion by 2027, and emerging economies will continue to grow much faster than North America and Central Europe,” says Soto. “Brazil, in particular, is consolidating itself as one of the largest centers of payments innovation in the world.”

The upcoming edition expands the outlook on global payment opportunities

For 2026, Nuvei is preparing a new edition of the Global Expansion Guide, focusing on new geographies. The next phases of the study should support international merchants and businesses to expand their digital consumer base, explore new diversification opportunities and enhance access to ecosystems that are innovating at unprecedented speed.

Novi highlights that the advancement of Generation Z and Millennials in emerging markets will be crucial in this process. These residents are highly connected and skilled at Mobile firstIt seeks personalized digital experiences and instant payments. The influence of this audience is likely to grow: by 2030, three out of four consumers in emerging economies will be between 15 and 34 years old.

“The key takeaway is clear: the payments landscape in high-growth markets is evolving, not displacing itself,” concludes Juan Soto. “The world’s fastest-growing digital economies and the next generation of consumers are ready for merchants who are ready for them.”