A new phase of digitalization within the financial system is solidifying every day in Brazil. At the moment, almost 80% of transactions carried out are made using cell phones and smartphones, symbolizing a massive adaptation to new payment solutions.
In all, Brazil has 79% of transactions made via cell phones throughout the year 2022, representing a significant increase compared to the 2021. This is preliminary information presented by the new Banking Economics report, from Banco do Brasil.
For that, the financial institution's analysis considered bill payment and tax transactions, Pix (BB instant payment) and credit transfer. Some data for the previous year were released at the end of last week. Although, the full report should be presented this Tuesday, 6.
PIX continues to grow
This increase in financial transactions via cell phones is also linked to PIX. Banco do Brasil's payments solution continues to demonstrate growth, as in previous years. Em 2022, This was the most used payment method in Brazil.
Nearly 30% of payment transactions were with PIX. I.e, 29% em 2022 against just 16% em 2021, year in which the Banco do Brasil method had already shown growth and strong adoption by users in general.
“The evolution in the number of transactions through PIX demonstrates that this instrument played an important role in the significant increase in the number of transactions in the payments ecosystem as a whole”, alleged the financial institution on the matter.
New era for Brazilian finance
At the moment, offering so many features and payment methods, smartphones are seen as a synonym for fast and efficient transactions. That's why, It is natural that they are overcoming internet banking and representing a new era of digitalization of the financial system.
