Approximation payments increase 330% in Brazil | Business

A report from the Brazilian Association of Credit Card and Service Companies (Abecs) reveals that, in the first half of 2020, the use of approach payment (NFC) increased 330% in Brazil compared to the same period in 2019. If you think this change in behavior is related to the COVID-19 pandemic, you are right.

C6 Bank

These 330% correspond to a volume of transactions equivalent to R $ 8.3 billion. If we consider only the second quarter of 2020, when the pandemic effectively started in Brazil, the increase in the use of contactless credit or debit cards was 256% in the year-over-year comparison.

In the same quarter, this form of payment moved R $ 4.3 billion against R $ 1.2 billion in the second quarter of 2019. Of this total, R $ 2.9 billion corresponds to credit card transactions, R $ 1.1 billion to debit cards and R $ 348 million to prepaid cards.

We cannot overlook the fact that the issuance of NFC cards has increased considerably in recent months. But it is undeniable that the pandemic drove the adoption of payment by approximation, after all, this method reduces or even eliminates the user’s need to touch the card machine.

The World Health Organization (WHO) itself recommends this method. In line with this movement, Abecs even increased the payment limit for approximation without the need for a password from R $ 50 to R $ 100.

Use of payment by approximation in the 1st semester of 2020 in Brazil

Online shopping

Unsurprisingly, Abecs also noted an increase in activity in non-face-to-face purchases, especially with regard to electronic commerce. In the second quarter of 2020, the number of online purchases increased by 14% year-over-year, making the volume of transactions jump from R $ 76 billion to R $ 87 billion in the period.

A survey by Abecs in partnership with the Datafolha Institute points out that the number of consumers who shop on the internet has jumped from 47% to 67%. 36% of them pay for these purchases with a credit card; 9%, with debt.

With information: Mobile Time.

Leave a Comment