Will Payment Card Transactions Keep Seeing Big Growth?
Financial Services Partner Steven Sandretto was interviewed by the Financial Services Advisor, a publication of The Dialogue, about the expected growth of credit- and debit-card transactions in Brazil. Payment card transactions in Brazil are expected to grow as much as 20 percent this year, according to industry group Abecs. Last year, card payments grew 8.2 percent, an increase largely driven by a government aid program to help low-income residents weather the economic effects of the pandemic. Aside from the pandemic, Mr. Sandretto discusses the other factors that will most likely influence the growth of payment card usage in the region.
"While the spike in credit- and debit-card transactions in Brazil over the past year can largely be attributed to the pandemic, the underlying driving forces for card usage, such as growth in e-commerce and the fintech revolution, should continue long after the pandemic has ended," said Mr. Sandretto. "As e-commerce continues to grow in Brazil and throughout Latin America, card transactions should continue to rise."