41.5% of Brazilians prefer to pay in Pix than in cash

A study by the BC (Central Bank) showed this Friday (29.Nov.2024) that Pix reduced the use of cash, which still remains the most used payment method in Brazil. Here’s the of the survey (PDF – 3 MB).

The research was carried out based on qualitative and quantitative data. The BC made a comparison of 2 different periods. The same survey was carried out in 2019. Pix was launched in 2020.

According to the survey, although cash is still the most used means of payment, 41,5% of Brazilians have Pix as their method “preferred” and 75% include it in the top 3.

Furthermore, the numbers indicate that 24.9% of payments were made via Pix, while the use of cash for this function fell from 76.6% in 2019 to 40.5% in 2023.

The research also shows that the number of Brazilians with bank accounts grew 10 pp from 2019 to 2023, from 77.3% to 87,6%. Among those who do not have accounts with financial institutions are Brazilians over 45 years old and with an income of up to R$2,640.

In the same period, receipt of income in cash fell by 22.8 percentage points. It was 56.8% in 2019. It was 34.0% in 2023. On the contrary, account receipts increased 23.9 pp, from 40.2% to 64,1% in the same period.

METHODOLOGY

The research evaluates how the Brazilian population and commercial establishments use payment methods. It is the 2nd edition of the series “Brazilians and their habits of using payment methods”started in 2019.

The survey was carried out in 1,500 households. The confidence level is 95% and the margin of error is 2.53%. The collection was carried out from October 6th to 10th, 2023. Only people over 18 years old participated.

The BC also recorded payments made by survey participants from October 7 to November 7, 2023. 11,023 payments were recorded.

In addition, 600 face-to-face interviews were carried out with businesses, with a 95% confidence level. The margin of error is 4%. Collection was from October 6th to November 30th, 2023.