Credit card transactions grew 42% in the third quarter of 2021 and moved R$420 billion, according to the Brazilian Association of Credit Card and Services Companies (Abecs). Prepaid cards had an increase of 153%, but with a lower volume, corresponding to R$ 31.9 billion.
Consequently, the card sector grew 35.8% in the third quarter of the year and the total handled was R$ 687 billion.
Another significant increase was spending on credit cards for Brazilians abroad, which rose by 56%, with a turnover of R$4.8 billion.
For the association, the sector has been following the growth in the consumption of goods and services, as the population’s vaccination progresses, allowing for a greater reduction in restrictive measures to combat the pandemic.
In the year 2022, Abecs forecasts that spending on cards will exceed that of 2021, and may move up to R$ 3 trillion, which would represent an increase of 21%.
Reference: CNN Brasil
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