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Contactless transactions gain a new limit as of January 2021 in Brazil: BRL 200

It is the second time that the limit has increased, following the popularization of the method, which grew 478% in Brazil in 2020, according to Abecs

90% of enterprises in Latin America will invest in contactless processes
Contactless processes have experienced a rise led by the pandemic. Photo: Shutterstock
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  • In Brazil, most transactions made through NFC (Near Field Communication) occur via credit card (65%), followed by debit card, according to data from Visa Consulting & Analytics;
  • The penetration of contactless technology via bracelets, smartphones, and smartwatches is still growing in the country.

In the first week of January, a new ceiling for payments without a password in Brazil should come into effect: R $ 200. According to the Brazilian Association of Credit Card and Service Companies (Abecs), this is the second time that this limit has been increased. In July 2020, it went from BRL 50 to BRL 100.

READ ALSO: The debit cards not so silent revolution in Brazil’s e-commerce

According to the association, this movement has accompanied the growth in the payment method, which grew 478% this year until September compared to the same period in 2019, generating a BRL 22.7 billion volume.

READ ALSO: 90% of large enterprises in Latin America will invest to turn their processes contactless, says IDC Latin America

In Brazil, most transactions made through NFC (Near Field Communication) occur via credit card (65%), followed by debit card, according to data from Visa Consulting & Analytics.

The penetration of contactless technology via bracelets, smartphones, and smartwatches is still growing in the country. It is unknown how the popularization of payments by QR Code and PIX (Brazil’s new instant payments system) will interfere in the growth of contactless payments.

Launched in November, PIX has accumulated more than 116 million registered keys (a piece of information that the user pre-registers as a way to streamline the transaction) and more than BRL 80 million in payments, according to the Central Bank.

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