Consumers in Brazil are embracing their digital wallets for making payments. Almost half of consumers use them for paying bills, for example. Surprisingly, it is the country’s baby boomers and seniors who are the most active digital wallet users when paying bills — and for online shopping. In fact, 31% of baby boomers in Brazil paid for an online purchase using one of these wallet. In contrast just 20% of Generation Z and 25% of millennial consumers in Brazil did the same.
Consumers in Brazil are also exploring how these wallets can be a trusted for non-transactional purposes. In fact, they are doing so at a much higher rate than their peers in other countries. For example, 34% of consumers in Brazil expect to verify their identity using a digital wallet in the next three years. This suggests that the Brazil market is ready to use these wallets to hold IDs and other documents.
These are just some of the findings detailed in “Digital Wallets Beyond Financial Transactions: Brazil Edition,” a PYMNTS Intelligence and Google Wallet collaboration. This report examines consumer perceptions and use of digital wallets in the last year and into the future in the Brazil market. It draws on insights from a survey of 2,101 consumers in Brazil conducted from Jan. 11 to Feb. 5.
Once consumers have used a digital wallet to store credentials or show their IDs, most are satisfied with their experience. Download the report to learn more about what’s next for these wallets in Brazil.
This report is part of a series exploring how consumers in various major economies are using digital wallets. Check out the archive to learn about how usage in Brazil compares to other countries.