The digitalization of consumption and the economic scenario are boosting purchases made with cards. Together, debit transactions, credit and prepaid had an increase of 11,4% in the first quarter of 2024. The electronic payment method showed significant growth compared to the same period of the previous year.
According to the survey carried out by Abces (Brazilian Association of Credit Cards and Services), Brazilians did 10,8 billions of transactions, moving approximately R$ 965 billion. This is the highest number of card payments ever recorded per quarter, going against the popularity of PIX.
The numbers also show that Brazilians are more familiar with technological transactions. Online purchases totaled R$ 225,3 billion, i.e., 18,4% more than the beginning of 2023. Subscribing to the contactless card also gained new fans last year, increasing 56,8% and moving R$ 305 billion.
Prepaid card attracts attention
Offering installments and other consumer programs, the credit card leads the preferences accounting 4,7 billions of transactions. But, the prepaid card option was the one with the highest growth rate compared to the previous quarter, totaling 4 billions of operations.
The debt, in turn, showed a small drop, maintaining its level of use among Brazilians with a total of 2,1 transactions. Check how much each modality moved individually and its respective percentage of growth in relation to 2023:
- credit card: R$ 635,2 billion (+ 14,4%)
- Debit card: R$ 241,2 billion (- 0,4%)
- Prepaid card: R$ 88,5 (+ 27,9%)
Greater purchasing power
Data on card use was presented at an Abces press conference, held in 15 May. The president of the association, Giancarlo Greco, states that this scenario is a consequence of two distinct factors: the adoption of online shopping and the drop in the unemployment rate.
Brazil has the lowest unemployment rate since 2014, at the same time that trade presents significant growth. “These are critical data that contribute to the card being an instrument for access to consumption and inclusion in our economy”, Greco said..
R$ 3 billions abroad
Yet, the Abces survey showed a growth of 33% also when shopping abroad, driven by the vacation period recorded in the first quarter. In all, Brazilians moved R$ 3 billion, mainly in transactions in European countries and the United States.
“We attribute this success to the entire methodology and infrastructure with which our industry works to make these transactions safer., convenient and quick”, explained the director.
