In Germany, more and more customers are reaching for their smartphone instead of cash or card when paying for goods. Here, mobile payments are gaining more momentum by the day. Something similar is happening in Brazil. The average citizen here owns 1.6 smartphones8 and payments with digital and mobile wallet are growing.
Brazil’s instant payment system Pix contributes to this, offering various overlaying services including QR code and NFC payments.9 In Germany, savings banks and cooperative banks also run a successful peer-to-peer (P2P) mobile payment service. Thus, in Germany, the topic of smartphone payments is being pushed by both bigtech firms and banks.