- International purchases from Asia, Latin America and the US shrank the most;
- Card purchases in the first quarter of 2020 represented a volume of transactions of BRL 475.7 billion.
In the first quarter, Brazilians spent less money on cross-border purchases, which saw a decrease of 21.1% during the period. The plummet derived from uncertainties related to the coronavirus pandemic as well as the devaluation in real. Purchases by Brazilian consumers shrank in Asia (-53.6%), followed by Latin America (-49%), USA (-47.6% ) and Europe (-44.6%), according to data by the Brazilian Association of Credit Card and Services Companies (Abecs), reported by InfoMoney.
However, even amid the economic coronavirus crisis, card purchases in Brazil grew 14.1% in the Q1 as e-commerce went up by 23%. Card purchases in the first quarter of 2020 represented a volume of transactions of BRL 475.7 billion, according to the research. In total, Brazilians made 5.8 billion transactions using cards in the first quarter.
The survey also shows that prepaid card modality increased 78.9%, with a volume of BRL 7.1 billion in the first quarter. E-commerce purchases increased by 23.2% in the first quarter, representing 29% of the volume traded with credit cards, around BRL 87 billion.