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PicPay
PicPay, Brazil’s largest digital wallet, had over 35 million active users by the end of 2023. It supports peer-to-peer transfers, QR payments, and bill payments while offering credit services.
Method
PicPay
LPM Market Share
2%
Payments
Yes
Refunds
Yes - full and partial refunds (automated)
Type
E-wallet
Local Card Scheme
Users
62M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
BRL
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
Dominance in Peer-to-Peer Transactions: PicPay captures a significant share of digital wallet transfers, making it the preferred choice for personal payments among Brazilians
Versatile QR Payment System: The platform's QR payment feature is widely accepted by numerous merchants, facilitating both online and in-store transactions
Integrated Financial Services: Beyond payments, PicPay offers a suite of financial products, including loans and credit card management, appealing to a broad user base seeking comprehensive financial solutions
