My Top 7 of the latest Pix stats that will blow your mind ๐Ÿคฏ

My Top 7 of the latest Pix stats that will blow your mind ๐Ÿคฏ
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

๐—›๐—ฒ๐—ฟ๐—ฒ ๐—ถ๐˜€ ๐—ฎ ๐—ฏ๐—ฟ๐—ฒ๐—ฎ๐—ธ๐—ฑ๐—ผ๐˜„๐—ป ๐—ผ๐—ณ ๐—ฉ๐—ถ๐˜€๐—ฎ'๐˜€ ๐—ค๐Ÿฏ ๐—™๐—ฌ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ ๐—ฒ๐—ฎ๐—ฟ๐—ป๐—ถ๐—ป๐—ด๐˜€:

๐—ฉ๐—ถ๐˜€๐—ฎ'๐˜€ ๐—ค๐Ÿฏ ๐—™๐—ฌ ๐Ÿฎ๐Ÿฌ๐Ÿฎ๐Ÿฐ ๐—ฒ๐—ฎ๐—ฟ๐—ป๐—ถ๐—ป๐—ด๐˜€

PAYMENTS NEWS

๐Ÿ‡ฌ๐Ÿ‡ง 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.

๐Ÿ‡ฌ๐Ÿ‡ง 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.

๐Ÿ‡ธ๐Ÿ‡ช 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.

๐Ÿ‡ฎ๐Ÿ‡ช 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.

๐Ÿ‡ฌ๐Ÿ‡ง 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.

๐Ÿ‡จ๐Ÿ‡ฑ 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.

๐Ÿ‡ฎ๐Ÿ‡ช 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.

๐Ÿ‡บ๐Ÿ‡ธ HP announced new, comprehensive U.S. consumer financing options for HP products purchased on HP.com. By leveraging ChargeAfterโ€™s technology and collaborating with three leading financial providers โ€“ Bread Financialโ„ข, Concora Credit and Koalafi โ€“ 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.

๐Ÿ‡ฑ๐Ÿ‡น 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.

๐Ÿ‡ฎ๐Ÿ‡น 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.

๐Ÿ‡ณ๐Ÿ‡ฟ Westpac announced that its first third party Open Banking integration is now live with BlinkPay. BlinkPay is a Mฤori FinTech company that enables businesses to accept customer payments direct from a bank account. More on that here

๐Ÿ‡ฌ๐Ÿ‡ง 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 ๐Ÿคฏ

Payment Orchestration Overview

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 โ€• 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.

๐—ฃ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—ผ๐—ฟ๐—ฐ๐—ต๐—ฒ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ถ๐—ผ๐—ป ๐—ต๐—ฎ๐˜€ ๐˜€๐˜๐—ฟ๐—ผ๐—ป๐—ด ๐—ด๐—ฟ๐—ผ๐˜„๐˜๐—ต ๐—ฝ๐—ผ๐˜๐—ฒ๐—ป๐˜๐—ถ๐—ฎ๐—น:

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.

๐— ๐—ฒ๐—ฟ๐—ฐ๐—ต๐—ฎ๐—ป๐˜๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐—น๐—ผ๐—ผ๐—ธ๐—ถ๐—ป๐—ด ๐˜๐—ผ ๐—ฏ๐—ฒ๐—ฐ๐—ผ๐—บ๐—ฒ ๐—ฎ๐—ฐ๐—พ๐˜‚๐—ถ๐—ฟ๐—ฒ๐—ฟ-๐—ฎ๐—ด๐—ป๐—ผ๐˜€๐˜๐—ถ๐—ฐ:

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.

๐—ฃ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜ ๐—ผ๐—ฟ๐—ฐ๐—ต๐—ฒ๐˜€๐˜๐—ฟ๐—ฎ๐˜๐—ผ๐—ฟ๐˜€ ๐—ฎ๐—ฟ๐—ฒ ๐—ถ๐—ป๐˜ƒ๐—ฒ๐˜€๐˜๐—ถ๐—ป๐—ด ๐—ถ๐—ป ๐˜ƒ๐—ฎ๐—น๐˜‚๐—ฒ-๐—ฎ๐—ฑ๐—ฑ๐—ฒ๐—ฑ ๐˜€๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ๐˜€ ๐—ถ๐—ป ๐—ฎ๐—ป ๐—ถ๐—ป๐—ฐ๐—ฟ๐—ฒ๐—ฎ๐˜€๐—ถ๐—ป๐—ด๐—น๐˜† ๐—ฐ๐—ผ๐—บ๐—ฝ๐—ฒ๐˜๐—ถ๐˜๐—ถ๐˜ƒ๐—ฒ ๐—บ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜:

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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