Brazil P2P (Peer to Peer) Payments Market Size, Opportunities & Challenges in Latest Research Report for New Player
In-Depth Analysis of the Brazil P2P (Peer to Peer) Payments Market: 2021-2026 Forecasts
MarkNtel Advisors has recently released an in-depth study on the Brazil P2P (Peer to Peer) Payments Market, covering historical data, current market trends, marketing strategies, technological advancements, upcoming technologies, emerging opportunities, and technical advancements in the relevant industry.
What are the primary market insights shaping the trajectory of the industry?
The Brazil P2P (Peer to Peer) Payments Market is projected to grow at a CAGR of around 15.1% during the forecast period, i.e., 2021-27.
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Who are the top companies in the Brazil P2P (Peer to Peer) Payments Market?
- Boleto Bancario
- Boleto Flash
- PragBrasil PIX
- PEC Flash
- Samsung Pay
- Google Pay
- WhatsApp Pay
Brazil P2P (Peer to Peer) Payments Market Segmentation:
By Transaction Mode
- Short Message Service (SMS)
- Mobile Apps
- Smartcard/NFC (Near field communication)
By Location
- Remote Payment
- Proximity Payment
By Type of Purchase
- Airtime Transfer & Top-Ups
- Money Transfers & Payments
- Merchandise & Coupons
- Travel & Ticketing
By Application
- Retail Payments
- Travels and Hospitality Payments
- Transportation and Logistics Payments
- Others
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Regional/ Countries Insight:
- North
- Northeast
- South
- Southeast
- Central west
What are the primary market drivers influencing the growth of Brazil P2P (Peer to Peer) Payments Market?
Key Driver: Several Government Initiatives for Promoting Contactless Payments
Payments made through digital or contactless mediums essentially contribute to a country’s economic development. It helps boost productivity, increases tax revenue, improves transparency, provides new opportunities for end-users, and expands financial inclusions. Recently Brazil has witnessed numerous initiatives implemented by the government to facilitate digital payments. For instance: “The launch of ‘PIX’ by the Brazil Central Bank to speed up & simplify transactions.”
Furthermore, these initiatives facilitate digitalization & raise awareness about the advantages of using new technologies, such as peer-to-peer (P2P) payments. In the context of the pandemic and to undertake enhanced measures of safe distancing, the Brazilian government has encouraged individuals & businesses to use digital financial services & e-payments and minimize physical visits to premises or outlets.
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- Businesses can utilize the report to identify emerging opportunities and potential challenges in the market by highlighting current trends and providing future projections.
- The insights provided in the report enable companies to align their strategies based on market forecasts, ensuring they can stay ahead of the competition and make informed decisions.
- Apart from market trends and projections, the Brazil P2P (Peer to Peer) Payments Market Report assists in assessing and mitigating risks associated with entering or operating in the market
- By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategic approaches to minimize risks and optimize their operations, enhancing their competitive edge in the market.
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