Card transactions are expected to grow 17.1% in Brazil in 2014, foresees Abecs

According to projections of Abecs (Brazilian Association of Credit Card Companies and Services) released in February, credit and debit card transactions in Brazil should reach R$ 1 trillion (US$ 426 billion) in 2014, which will represent an increase of 17.1% in comparison to the transacted value of last year.

The association indicates that the continuous replacement of payment methods by consumers and commercial establishments, both increasing the use of electronic instruments, and the income growth of the Brazilian are the main reasons to expect transactions to increase.

In the consolidated balance of 2013, cards registered R$ 853 billion (US$ 363 billion) in transacted volume, which corresponds to a growth of 17.8% over 2012.

Credit cards registered R$ 553 billion (US$ 235 billion), growth of 15.3%, and debit cards R$ 300 billion (US$ 128 billion), representing increase of 22.5%. The amount of transactions of both modalities reached a total of 9.3 billion (14% increase). The growth was of 11.6% on credit cards and 16.4% on debit cards, summing, respectively, 4.5 billion and 4.8 billion of transactions per year.

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Reference:

http://www.abecs.org.br/noticia/transacoes-com-cartoes-devem-crescer-17-1-em-2014-estima-abecs

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