Credit cards are now the “plastic money”. According to the Brazilian Association of Credit Card Companies and Services (Abecs), currently, the possession of cards reached 76% among the population over 18 years old in eleven of the major Brazilian capitals. With new instruments, predominantly prepaid accounts, consumers have begun to experience the credit cards world and have started to get used to consume more digital goods. Over time, this consumer will migrate from prepaid accounts to credit cards. According to industry experts, this migration must continue to leverage the representativeness of classes C, D and E on credit cards usage.
The average expenditure per credit card in Brazil increased 23% between 2010 and 2013, from R$ 566 (US$ 254) to R$ 699 (US$ 313) monthly. Female audience registered a presence of 53% in 2013, in comparison to 48% in 2010. The number of consumers saying that they use credit cards increased from 60% to 64%.
Credit and debit cards market is projected to grow on average 17% annually until 2016. The major growth will be related to debit cards, expected to advance 20%. Credit cards should register an increase of 15%. Both payment methods already account for 50% of monthly financial expenditure of the Brazilian, which means a gradual evolution against 42% in 2011. The gain was related to the representativeness reduction of alternative payment methods such as cash, checks and boleto bancário. Cash representativeness was the most reduced in the period, from 43% to 37%, while the debit cards share rose from 19% to 23%, according to the survey.
allpago international provides a full-spectrum of payment services in the LATAM region. allpago works as a payment gateway, a white label payment service provider (PSP) or a product and service reseller for merchants and payment service providers interested in the LATAM markets.
allpago’s features include one-click payments, recurring payments, instalments, dynamic descriptor and mobile payment solutions. The company’s html 5.0 code allows multiscreen and is as easy to implement into the store through the “plug and pay” feature. Furthermore, the company offers a fully integrated Risk Management Solution with more than 70 checks. allpago has recently become the first LATAM payment solution provider of the Merchant Risk Council (MRC).
Current clients include Art.com, Busuu.com, McAfee, Teamviewer, Twoo.com and many other leading payment or digital companies from various sectors.
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