Local Cards Surge in India While Pix Overtakes Credit in Brazil
Recent trends in payment methods across emerging markets reveal significant shifts in consumer behavior and technology adoption. According to EBANX’s Beyond Borders 2026 report, local credit card schemes are expanding rapidly in India, while Brazil’s Pix has become the leading method for e-commerce transactions.
Growth of Local Credit Cards in India
In India, domestic card networks, particularly RuPay, are experiencing impressive growth. The report indicates that RuPay credit cards are projected to grow at a compound annual growth rate (CAGR) of 23% through 2028. This growth outpaces the Unified Payments Interface (UPI), which is expected to expand at 15%, and international cards, which will see a modest 6% growth.
Despite UPI accounting for 75% of e-commerce volume, the rise of local card schemes reflects a convergence between credit access and instant payment infrastructure. Eduardo de Abreu, Chief Product Officer at EBANX, emphasized that this trend is less about displacement and more about the integration of card-based credit with instant payments and domestic infrastructure.
RuPay’s Market Position
Currently, RuPay holds a 33% share of India’s card market, trailing only Visa at 43%. Mastercard and American Express hold 20% and 4%, respectively. The growth of RuPay is attributed to its integration with UPI AutoPay, which allows real-time transactions to draw directly on credit limits, enhancing user convenience.
Pix Dominates E-commerce in Brazil
In Brazil, the instant payment system Pix has overtaken credit cards as the preferred payment method for online shopping. In 2025, Pix accounted for 42% of total e-commerce purchase value, compared to 41% for credit cards. Projections indicate that by 2028, Pix will command 50% of transactions, while cards will drop to 36%.
Pix Automático: A Game Changer
The introduction of Pix Automático in June 2025 has significantly contributed to this growth. This feature allows users to set up recurring payments, which has seen a monthly growth rate of 41%. As a result, 60 million Brazilians without credit cards can now access subscription services, such as streaming platforms.
Hotmart, a platform for content creators, reported a 32 percentage point increase in customer retention when utilizing Pix Automático compared to traditional one-time payments. This method has proven effective in converting failed manual payments into ongoing subscriptions, with one in four new buyers opting for Pix Automático.
Impact on Micro-Businesses
Pix is particularly beneficial for micro-businesses in Brazil, with 80% of companies using Pix through EBANX being micro-enterprises. A significant 84% of these businesses rely on Pix for software purchases, opening doors for global providers that typically cater to clients with credit cards.
Corporate Transactions and Growth
As of 2025, the Central Bank of Brazil reported that 22 million companies conducted Pix transactions, marking a 41% increase since early 2024. The number of active relationships between corporate entities and digital banks surged from fewer than 3 million to 9.2 million, while traditional banks experienced a 6% decline in their corporate client base.
Regional Variations in Card Growth
Card usage in emerging markets varies significantly based on regional characteristics and consumer preferences. In Latin America, installment payment plans are vital for maintaining card relevance. For instance, one global gaming company in Brazil reported that installment payments accounted for 40% of its transaction value, particularly during major releases.
Debit Cards in Africa
In Nigeria and Egypt, debit card ownership has increased significantly, with Nigeria’s Verve scheme issuing 100 million cards, representing 90% of debit card online sales. However, in Kenya, the trend is different; while financial account ownership increased, card ownership declined as mobile money, particularly M-PESA, dominates the e-commerce landscape.
Southeast Asia’s Unique Challenges
In Southeast Asia, credit cards remain exclusive due to the absence of credit bureaus, which complicates consumer underwriting. In Indonesia, debit cards are often disabled for e-commerce transactions due to fraud concerns, pushing consumers towards wallets or QR-code transfers instead.
Shifting B2B Payment Landscapes
Small and medium enterprises (SMEs) represent a significant portion of businesses in Latin America and Sub-Saharan Africa. These businesses are increasingly transitioning from merely receiving payments to becoming active buyers through digital platforms that bypass traditional banking requirements.
Digital Platforms and Alternative Payment Methods
Digital platforms like Nubank in Brazil and Nequi in Colombia are gaining traction, providing free business accounts with minimal bureaucracy. In Colombia, only 14.5% of companies possess corporate credit cards, indicating a shift towards alternative payment methods as the primary gateway for SME buyers.
EBANX data shows that since the launch of Pix, purchases by companies have consistently increased, with transaction values more than doubling in 2025. In Mexico, alternative payment methods, including OXXO and Mercado Pago, constitute a significant portion of B2B merchant sales.
Conclusion
The evolving landscape of payment methods in India and Brazil highlights the dynamic nature of consumer preferences and technological advancements. As local card schemes gain traction in India and Pix solidifies its dominance in Brazil, businesses must adapt to these changes to remain competitive in their respective markets.
Note: This article is based on the findings of EBANX’s Beyond Borders 2026 report and aims to provide insights into the current trends in payment systems across emerging markets.
