CMSPI - State of the Industry Report - 2025

ENDNOTES 7

555 Pix is now the most used payment method in Brazil | Banco Central do Brasil 556 Pix Transactions Estimated 6.3 Billion in March | Matera 557 Pix Transactions Estimated 6.3 Billion in March | Matera 558 Worldpay Global Payments Report 2024 & 2025 559 Pix Participants | Banco Central do Brasil 560 Pix Participants | Banco Central do Brasil 561 Pix Participants | Banco Central do Brasil 562 Recurring Payments Feature to Draw $30 Billion in Payments to Brazil’s Pix | PYMNTS 563 New feature of Brazil’s Pix system to draw $30 billion in e-commerce payments | Reuters 564 Pix Transactions Estimated 6.3 Billion in March | Matera 565 Pix Transactions Estimated 6.3 Billion in March | Matera 566 New wave of growth expected as Pix introduces tap-to-pay feature | Valor International 567 Brazil’s Central Bank Previews Contactless Pix Payments | PYMNTS 568 Brazil’s Central Bank Previews Contactless Pix Payments | PYMNTS Section 2.5 - BNPL 569 What is a Buy Now, Pay Later (BNPL) loan? | CFPB 570 Klarna Payment Options | Klarna 571 Worldpay Global Payments Report 2025 572 Charga-Plate in Red Leather Case, United States, 1950’s | National Museum of American History 573 Layaway | Corporate Financial Institute 574 Pay In 4, PayPal’s Buy-Now-Pay-Later Product, Resonates With Shoppers | Forbes 575 France Buy Now Pay Later Market Report 2021 Featuring Alma, Klarna, Scalapay, Clearpay, & PayPal - ResearchAndMarkets.com | Business Wire 576 PayPal to launch buy now, pay later scheme: how does it compare with Clearpay, Klarna and Laybuy? | Which? 577 Affirm Announces Pricing of Initial Public Offering | Affirm Holdings, Inc. 578 Buy now, pay later has been around for a while. Why is it exploding now? | PayPal

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