The value of card payments in Brazil has experienced fluctuations over the past decade. Starting from 2013, the value had a positive year-on-year growth until a significant drop in 2015. After a period of stability and slight growth, another dip occurred in 2020 due to the pandemic. However, there was a sharp recovery in 2021. As of 2023, the value of card payments stood at USD 373.97 billion, showing a modest increase of 1.67% compared to 2022. The average annual growth rate (CAGR) over the last five years up to 2023 was 1.81%.
Looking forward, from 2024 onwards, the trend is forecasted to show steady growth, with a CAGR of 1.29% for the next five years, culminating in a total growth of 6.59% by 2028.
Trends to watch for in the future include:
- Impact of digital payment innovations and fintech growth.
- Influence of economic policies and inflation rates on consumer spending.
- Adoption of contactless and mobile payment solutions accelerating post-pandemic.
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