The percentage of contactless credit card payments rose from 23.1% to 31.1% between 2022 and 2023. Cell phones are the leading payment channell in Brazil, accounting for 82% of the total volume of transactions of the last year. The data is part of the statistics on cards and retail payments in Brazil.
The technological revolution and increasing digitalization have significantly impacted the payment industry. The statistics on payment instruments published by the Banco Central do Brasil (BCB), namely Estatísticas de Meios de Pagamentos no Brasilopen_in_new (Portuguese), show the growth in the country’s usage of digital payment instruments.
The latest data collected by the BCB, released in June and referring to 2023, show that the general public increasingly adopts contactless payments.
According to the BCB’s survey, the percentage of contactless credit card payments has grown significantly compared to other technical solutions (magnetic stripe, chip, and online): from 23.1% to 31.1%, according to the volume transacted in the last quarters of 2022 and 2023.
Debit card contactless payments grew equally, from 24.4% to 35.2% over the same period.
Predominance of cell phones
The latest edition of the spreadsheet document Instrumentos de Pagamento—Dados Estatísticos 2023open_in_new (Portuguese) confirms the perception that cell phones are the leading payment channel in Brazil. In 2023, this device accounted for 82% of the total volume transacted.
Pix
Pix was the country’s second most significant payment instrument in 2023, accounting for 39% of all payments, behind only card transactions (credit, debit, and prepaid), which accounted for 41%.
Face-to-face service is still important
Despite the growing digitalization of payments in Brazil, the data also reveals that, in terms of transaction value, face-to-face channels (ATMs, bank branches, correspondents, etc.) remain relevant, as around 42% of the total amount transacted last year relied on them.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
