Business

PicPay tops the chart of Latin America's fintech app downloads in Q2

Search for finance apps in Brazil grew 125% year-over-year in the Q2

Brazilian digital wallet PicPay app on smartphone
Brazilian digital wallet PicPay. Photo: Shutterstock
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  • Alongside finance, business and shopping apps had the greatest year-over-year precent growth in downloads in Q2 across Brazil;
  • PicPay is a PayPal-alike Brazilian payments app.

Brazilian PicPay is the fintech in Latin America that had the most app downloads during the second-quarter, according to App Annie. According to the report, finance apps in Brazil downloads grew 125% year-over-year in the Q2.

READ ALSO: PicPay debuts in the personal credit market

Alongside finance, business and shopping apps had the greatest year-over-year precent growth in downloads in Q2 across Brazil by 220% and 95%, respectively. The report attached the boost to COVID-19 effects, that propelled mobile usage forward, achieving a growth that would have otherwise taken two to three years.

According to App Annie, downloads of finance apps in Brazil surpassed 184 million in Q2 2020. Part of this growth is due to demand for fintech apps.