My Top 7 of the latest Pix stats that will blow your mind 🤯

Hey Payments Fanatic!

Matera has released a report on the latest Pix statistics, and the figures are truly remarkable. Here are my top 7 highlights from the most recent Pix data that will astonish you:

1. Pix Volume Surges: In June 2024, there were an estimated 5.3 billion Pix transactions, a 60% increase compared to June 2023.
2. QR Code Transactions: Approximately 2.2 billion Pix transactions per month, or 42%, are initiated by scanning a QR code.
3. Pix vs. Cards: The number of Pix transactions is 45% higher than the combined total of credit and debit card transactions.
4. Quarterly Comparison: In Q4 2023, Pix saw 13.1 billion transactions, compared to 4.8 billion credit card transactions and 4.2 billion debit card transactions.
5. Widespread Adoption: Over 156 million Brazilian adults (more than 90%) and 17 million businesses are using Pix.
6. Growing Use Case: The fastest-growing application of Pix is in payments between consumers and businesses. P2B transactions made up 39% of total Pix transactions in June 2024, up from 30% in June 2023.
7. Market Share: In less than four years, Pix has grown to account for 43% of all payments in Brazil.

This impressive adoption by both consumers and businesses reflects the overall confidence in Pix. Even the National Treasury is transitioning payment programs to Pix.

I highly recommend reading the complete fintech report by Matera, which I used as the source, for more fascinating statistics and information.

Cheers,

Marcel

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INSIGHTS

𝗛𝗲𝗿𝗲 𝗶𝘀 𝗮 𝗯𝗿𝗲𝗮𝗸𝗱𝗼𝘄𝗻 𝗼𝗳 𝗩𝗶𝘀𝗮'𝘀 𝗤𝟯 𝗙𝗬 𝟮𝟬𝟮𝟰 𝗲𝗮𝗿𝗻𝗶𝗻𝗴𝘀:

PAYMENTS NEWS

🇬🇧 Global payments and financial platform Airwallex has selected GoCardless to provide direct debit to its customers across several markets. Airwallex has launched the service in the UK, with Europe expected to follow soon after this announcement.

🇬🇧 Bank of England calls for input on payments innovation. The central bank has published a Discussion Paper that sets out its response to rapid innovations in payments and their impact on monetary and financial stability.

🇸🇪 Swedish account-to-account (A2A) payments FinTech, Brite Payments appointed its first Chief Commercial Officer, Luke Trayfoot. Mr. Trayfoot, who previously built high-performing commercial teams at PayPal and Mangopay, has a deep understanding of the payments sector and internationalisation strategy.

🇮🇪 An Post signs with Safecypher to drive down card-not-present fraud. The Irish Post office will now embed the Safecypher security technology for CNP (Cardholder-Not-Present) payments into its popular An Post Payments app.

🇬🇧 Worldfirst world account enables instant cross-border business payment function in over 200 markets. This function will benefit British and European SMEs that import from international markets. It allows these businesses to promptly pay their overseas suppliers free of charge, ensuring timely receipt of goods and cost savings to support their business growth.

🇨🇱 Paytech Kushki has officially entered the in-person payment solutions business with the launch of its POS (Point of Sale) system in Chile. With this new product, the company aims to enhance its offerings and provide national businesses with the capability to process physical transactions.

🇮🇪 Nexi, the European PayTech, signs an agreement with Payac Services CLG, a credit union owned payment services provider, to deliver SEPA Instant payments to all participating credit unions in the Republic of Ireland.

🇺🇸 HP announced new, comprehensive U.S. consumer financing options for HP products purchased on HP.com. By leveraging ChargeAfter’s technology and collaborating with three leading financial providers – Bread Financial™, Concora Credit and Koalafi – HP can now offer nearly every U.S. consumer a financing option when they shop for personal computers (PCs), printers or peripherals on HP.com. Finance options include promotional financing to qualified buyers , or lease-to-own options with no credit needed.

🇱🇹 SDK.finance partners with Salt Edge to boost the delivery of Open Banking solutions. This collaboration will help FinTech companies and financial institutions of all sizes develop open banking-enabled financial services and applications or update their existing ones.

🇮🇹 Shift4 and Fabrick partner to enhance payment acceptance solutions for merchants across Europe. This partnership will allow client companies to access the best tools to maximise secure payment conversion while simplifying treasury processes.

🇳🇿 Westpac announced that its first third party Open Banking integration is now live with BlinkPay. BlinkPay is a Māori FinTech company that enables businesses to accept customer payments direct from a bank account. More on that here

🇬🇧 Surfboard Payments announces partnership with Cardstream Group to deliver innovative payment solutions. This collaboration introduces an embedded payment solution for the UK and other markets, offering a white-label multi-channel platform for ISVs, ISOs, PayFacs, and their merchants to handle in-person and remote transactions.

GOLDEN NUGGET

The Payment Orchestration market will be worth over $15 billion by 2026 🤯

Let's have a closer look:

The total addressable market (TAM) for technical payment orchestration was US$9.9 billion in 2022, and it is expected to grow to US$15.2 billion in 2026 ― a compound annual growth rate (CAGR) of 11%.

However, the service-addressable market (SAM) will be highly dependent on the business model and target market for each provider of orchestration services.

𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗼𝗿𝗰𝗵𝗲𝘀𝘁𝗿𝗮𝘁𝗶𝗼𝗻 𝗵𝗮𝘀 𝘀𝘁𝗿𝗼𝗻𝗴 𝗴𝗿𝗼𝘄𝘁𝗵 𝗽𝗼𝘁𝗲𝗻𝘁𝗶𝗮𝗹:

Revenue reported by dedicated FinTech orchestrators is less than US$25 million, indicating that this market is still relatively immature given the TAM of around US$10 billion. There is plenty of room for providers to grow.

𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁𝘀 𝗮𝗿𝗲 𝗹𝗼𝗼𝗸𝗶𝗻𝗴 𝘁𝗼 𝗯𝗲𝗰𝗼𝗺𝗲 𝗮𝗰𝗾𝘂𝗶𝗿𝗲𝗿-𝗮𝗴𝗻𝗼𝘀𝘁𝗶𝗰:

For enterprise merchants, having access to multiple payment integrations with acquirers, PSPs, gateways, and other service providers allows them to enhance payment acceptance rates and reduce processing fees.

With more options available, they can choose the most suitable provider for specific transactions, optimizing costs and improving payment success rates.

𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗼𝗿𝗰𝗵𝗲𝘀𝘁𝗿𝗮𝘁𝗼𝗿𝘀 𝗮𝗿𝗲 𝗶𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝗶𝗻 𝘃𝗮𝗹𝘂𝗲-𝗮𝗱𝗱𝗲𝗱 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗶𝗻 𝗮𝗻 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗶𝗻𝗴𝗹𝘆 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗺𝗮𝗿𝗸𝗲𝘁:

Providers offer a comprehensive solution connecting to hundreds of acquirers, PSPs, and other providers. They can also support more than 350 payment methods globally.

Key functionality such as smart payment routing is now table stakes, and orchestrators need to invest in value-added services to differentiate themselves from increasing competition.

I highly recommend downloading and reading the complete Datos Insights FinTech Report by Ron van Wezel for more interesting info.

Source:

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