The B2B BNPL payments in the country are expected to grow by 38.0% on an annual basis to reach US$3.94 billion in 2025.
Brazil B2B BNPL adoption continues to accelerate as businesses increasingly seek flexible payment solutions for procurement and trade transactions.The medium to long-term growth story of the B2B BNPL industry in the country remains strong. B2B BNPL payment adoption is expected to grow steadily, recording a CAGR of 25.1% during 2026-2030. The gross merchandise value is projected to increase from US$3.94 billion in 2025 to US$12.61 billion by 2030.
Brazil's B2B BNPL market is shaped by the ongoing formalisation of the country's large informal economy through mandatory e-invoicing (Nota Fiscal Eletrônica), Pix adoption, and Open Finance framework implementation. The agribusiness sector represents the single largest B2B BNPL opportunity in Brazil, with millions of rural producers requiring seasonal financing for agri-inputs within a supply chain that has historically operated entirely on informal credit from input suppliers. Over the next 2-4 years, Credit on Pix expansion and agri-data integration into underwriting models are expected to drive the most significant market growth.
Competitive intensity is growing between bank-affiliated platforms and independent fintech providers. Blu, backed by Porto Seguro, benefits from insurance distribution relationships for risk mitigation. Nubank Business, supported by Nubank's large customer base, represents a formidable potential competitor as it expands B2B capabilities. Agribusiness verticals are less competitive than urban retail supply chain BNPL, with specialist providers facing limited competition from generalist SME lenders.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
Brazil B2B BNPL adoption continues to accelerate as businesses increasingly seek flexible payment solutions for procurement and trade transactions.The medium to long-term growth story of the B2B BNPL industry in the country remains strong. B2B BNPL payment adoption is expected to grow steadily, recording a CAGR of 25.1% during 2026-2030. The gross merchandise value is projected to increase from US$3.94 billion in 2025 to US$12.61 billion by 2030.
Key Trends and Drivers in Brazil's B2B Buy Now, Pay Later (BNPL) Market
Brazil is the leading B2B BNPL market in Latin America, driven by Pix instant payment infrastructure, one of the world's most advanced open finance regulatory frameworks, and structural demand from the agribusiness sector. Providers including Blu (Porto Seguro-backed), Conta Simples, and Traive are building payment term products on Pix rails that offer instant supplier settlement while extending deferred credit to business buyers, replacing the boleto-based deferred payment system that has historically been the primary informal trade credit mechanism in Brazilian B2B commerce.Brazil's B2B BNPL market is shaped by the ongoing formalisation of the country's large informal economy through mandatory e-invoicing (Nota Fiscal Eletrônica), Pix adoption, and Open Finance framework implementation. The agribusiness sector represents the single largest B2B BNPL opportunity in Brazil, with millions of rural producers requiring seasonal financing for agri-inputs within a supply chain that has historically operated entirely on informal credit from input suppliers. Over the next 2-4 years, Credit on Pix expansion and agri-data integration into underwriting models are expected to drive the most significant market growth.
Pix Instant Payment Infrastructure Enables B2B BNPL at Scale
- Brazil's Pix instant payment system, launched by the Banco Central do Brasil in 2020 and achieving near-universal business adoption within three years, has become the settlement infrastructure layer for B2B BNPL in Brazil. Providers including Blu and Conta Simples use Pix as the settlement rail for B2B payment terms, enabling real-time payment to suppliers upon buyer credit approval.
- Pix adoption among Brazilian businesses reached over 80% penetration within three years of launch, providing a ubiquitous, zero-cost instant payment rail that removes settlement cost and timing as barriers to supplier participation in BNPL programs. This infrastructure advantage has eliminated a key friction point for B2B BNPL adoption.
- Pix-enabled B2B BNPL will become the dominant form of short-term trade credit for Brazilian SMEs, displacing both traditional boleto-based deferred payment and informal supplier credit. The combination of instant settlement and flexible buyer terms addresses both sides of the B2B credit problem simultaneously.
Agribusiness Supply Chains Represent the Largest B2B BNPL Opportunity
- Brazil's agribusiness sector generating significant GDP contribution operates on complex payment term structures for seeds, fertilisers, pesticides, and machinery. Fintechs including Traive and agri-focused lenders have developed B2B BNPL products for agri-input purchasing, using satellite imagery, soil sensor data, and crop price forecasts as additional underwriting inputs.
- Brazilian agriculture involves millions of rural producers with limited formal credit access, operating through a supply chain where agri-input suppliers have historically extended informal credit accepting crop receipts as security. Digital B2B BNPL providers are formalising this informal credit market with data-driven underwriting that incorporates production cycle data and harvest timing into credit terms.
- Agri-BNPL will be the single largest growth vertical for Brazilian B2B BNPL over the next four years, as satellite and IoT data improves agricultural credit assessment and as rural internet penetration extends digital platform reach deeper into producing regions.
Open Finance Framework Enables Multi-Bank Data Underwriting
- Brazil's Open Finance framework, overseen by the Banco Central and considered among the most comprehensive globally, enables B2B BNPL providers to access SME banking data across multiple financial institutions with customer consent. Providers use Open Finance APIs to build comprehensive financial profiles that incorporate data from all of a business's banking relationships, reducing reliance on bureau credit data that often provides incomplete pictures of SME financial health.
- Brazil's open finance framework was designed with a broader scope than its European PSD2 equivalent, including investment, insurance, and pension data in addition to banking transactional data. This breadth provides B2B BNPL underwriters with a more complete financial picture for SME borrowers.
- Open Finance will enable B2B BNPL to serve segments of the Brazilian SME market that lack traditional credit bureau records. Improved pricing accuracy will reduce the risk premium currently embedded in B2B BNPL rates, broadening market access.
Competitive Landscape and Regulatory Changes in Brazil's B2B BNPL Market
Brazil is the leading B2B BNPL market in Latin America, with Pix infrastructure, Open Finance data, and agribusiness demand creating distinctly favourable conditions for market growth. The market is developing rapidly from a position where informal supplier credit dominated, with multiple funded fintechs competing across verticals. Major Brazilian banks including Nubank, BTG Pactual, and Itaú Unibanco are developing digital trade credit products.Competitive intensity is growing between bank-affiliated platforms and independent fintech providers. Blu, backed by Porto Seguro, benefits from insurance distribution relationships for risk mitigation. Nubank Business, supported by Nubank's large customer base, represents a formidable potential competitor as it expands B2B capabilities. Agribusiness verticals are less competitive than urban retail supply chain BNPL, with specialist providers facing limited competition from generalist SME lenders.
Key Players and New Entrants
- Blu: The most prominent domestic B2B BNPL provider in Brazil, backed by Porto Seguro, focusing on retail and wholesale supply chain credit. Blu's insurance group backing provides access to risk management infrastructure that pure-fintech competitors lack.
- Traive: A São Paulo-based agri-tech and B2B BNPL provider focused on agricultural input financing, using satellite data and crop monitoring to underwrite seasonal credit for Brazilian farmers and agri-SMEs. Traive raised $20 million in a Series B in February 2024, led by Banco do Brasil through its BB Impacto ASG I Fund, to expand agri-BNPL coverage across Brazilian agricultural regions.
- Nubank Business: The business-focused product of Brazil's largest fintech, Nubank, which has expanded from consumer banking into SME financial services.
- BTG Pactual: Brazil's largest investment bank has launched a digital supply chain finance platform for mid-market manufacturers, representing the most advanced traditional bank entry into the Brazilian B2B BNPL-adjacent market.
- Conta Simples: A B2B financial platform offering SME payment terms and corporate card products to Brazilian businesses, with a focus on the tech and services sector.
Recent Launches, Mergers, and Acquisitions
- Traive raised $20 million in a Series B round in February 2024, led by Banco do Brasil through its BB Impacto ASG I Fund, to expand its agri-BNPL product and launch a credit trading platform connecting agricultural supply chains with capital markets.
- BTG Pactual's digital supply chain finance platform launched for mid-market Brazilian manufacturers, offering automated payment terms for supplier networks of BTG's existing corporate banking clients.
- The Banco Central do Brasil published Open Finance Phase 4 implementation guidance in 2024, requiring investment and insurance product data sharing to be available through Open Finance APIs, expanding the data scope available to B2B BNPL underwriters.
- Blu expanded its B2B BNPL product to additional retail supply chain verticals including pharmacy distribution and consumer electronics wholesale.
Competitive Landscape Outlook for the Next 2-4 Years
- Brazil's B2B BNPL market will grow rapidly over the next 2-4 years driven by infrastructure advantages and agribusiness demand. Nubank Business's B2B expansion is the development most likely to reshape competitive dynamics, given the potential to bring Nubank's data and distribution scale to B2B credit products.
- Consolidation between bank-affiliated platforms and fintech providers is expected as smaller fintechs seek bank-grade wholesale funding and banks seek fintech-grade digital product capabilities.
- The market will expand geographically within Latin America as Brazilian B2B BNPL providers internationalise into Colombia, Chile, and Mexico, where similar e-invoice infrastructure and instant payment systems create comparable underwriting and settlement conditions.
- Agribusiness BNPL will grow into Brazil's largest B2B BNPL vertical as satellite and IoT data integration matures, enabling extension of formal trade credit to rural producers at scale.
Regulatory Changes
- Open Finance Phase 3 and Phase 4 implementation, completing through 2023 and 2024, extended API-based data sharing requirements to investment management and insurance product data, materially expanding the financial data available to B2B BNPL underwriters.
- BACEN issued guidance on responsible lending practices for digital credit providers in 2024, including requirements for adequate affordability assessment, transparent cost disclosure, and prohibition on automatic credit limit increases without explicit borrower consent.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
Report Scope
This report provides a comprehensive, data-driven analysis of the B2B Buy Now Pay Later market in Brazil. It covers market size, growth dynamics, and segmentation across end-use sectors, retail product categories, sales channels, and company size. The data evaluates gross merchandise value, transaction volume, and average transaction value trends with historical and forecast data covering 2021-2030.Brazil B2B BNPL Market Size and Growth Dynamics, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL Competitive Landscape
- Market Share Analysis by Key Players, 2025
Brazil B2B BNPL in Retail: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL Market Segmentation by Key Retail Product Categories, 2021-2030
- Gross Merchandise Value Trend Analysis
- Electronics & Accessories
- Office Supplies
- Cleaning Products
- Fashion & Apparel
- Beauty & Personal Care
- Pantry & Food Products
- Other
Brazil B2B BNPL in Manufacturing: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL in Transport and Logistics: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL in Professional Services: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL in Industrial Applications: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL in Healthcare: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL in Other Sectors: Market Size and Forecast, 2021-2030
- Gross Merchandise Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value Per Transaction Trend Analysis
Brazil B2B BNPL Market Segmentation by Sales Channel, 2021-2030
- Online Channel
- POS Channel
Brazil B2B BNPL Market Segmentation by Company Size, 2021-2030
- Small Enterprises
- Medium Enterprises
- Large Enterprises
Reasons to Buy
- Comprehensive Market Intelligence: Gain a complete understanding of Brazil's B2B Buy Now Pay Later market through core metrics including gross merchandise value, transaction volume, and average value per transaction with trend analysis covering 2021-2030.
- End-Use Sector Analysis: Analyze B2B BNPL adoption and spend dynamics across seven key sectors including Retail, Manufacturing, Transport and Logistics, Professional Services, Industrial Applications, Healthcare, and Other sectors with GMV, transaction volume, and average transaction value for each.
- Retail Product Category Deep-Dive: Access granular breakdown of B2B BNPL spend within the retail sector across seven product categories including Electronics & Accessories, Office Supplies, Cleaning Products, Fashion & Apparel, Beauty & Personal Care, Pantry & Food Products, and Other categories.
- Sales Channel Segmentation: Understand B2B BNPL market distribution by sales channel with dedicated analysis of Online Channel and POS Channel including market share trends and gross merchandise value forecasts for 2021-2030.
- Company Size Segmentation: Evaluate B2B BNPL adoption patterns by company size with market share analysis and GMV trend data segmented by Small, Medium, and Large enterprises.
- Competitive Landscape Insights: Access market share analysis by key players to understand the competitive positioning within Brazil's B2B BNPL ecosystem.
- Data-Driven Forecasts: Access structured dataset with historical data (2021-2024) and forecast values (2025-2030) across all segments, delivered in an analytics-ready databook.
Table of Contents
1. About this Report
3. Brazil B2B Buy Now Pay Later Industry Attractiveness
5. Brazil B2B Buy Now Pay Later in Retail: Market Size and Forecast, 2021-2030
6. Brazil B2B BNPL Snapshot by Key Retail Product Categories, 2021-2030
7. Brazil B2B Buy Now Pay Later in Manufacturing: Market Size and Forecast, 2021-2030
8. Brazil B2B Buy Now Pay Later in Transport and Logistics: Market Size and Forecast, 2021-2030
9. Brazil B2B Buy Now Pay Later in Professional Services: Market Size and Forecast, 2021-2030
10. Brazil B2B Buy Now Pay Later in Industrial Applications: Market Size and Forecast, 2021-2030
11. Brazil B2B Buy Now Pay Later in Healthcare: Market Size and Forecast, 2021-2030
12. Brazil B2B Buy Now Pay Later in Other Sectors: Market Size and Forecast, 2021-2030
13. Brazil B2B Buy Now Pay Later Spend Analysis by Sales Channel
14. Brazil B2B Buy Now Pay Later Spend Analysis by Company Size
15. Further Reading
List of Tables
List of Figures
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 57 |
| Published | April 2026 |
| Forecast Period | 2026 - 2030 |
| Estimated Market Value ( USD | $ 5.14 Billion |
| Forecasted Market Value ( USD | $ 12.61 Billion |
| Compound Annual Growth Rate | 25.1% |
| Regions Covered | Brazil |
