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

01.Sep.2020 11:02 BRT
UPDATED 12:04 BRT

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.

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.

🗓️Aug 26 – #AppAnnie's #mobile #statoftheday 👇👇

🇧🇷#Brazil #Finance app downloads grew 125% YoY in Q2
💰 @picpay was #1 LATAM-HQ'd #fintech app in Q2

👋Follow us for your daily dose of the latest #mobilestats
📱https://t.co/nhTNqlsroM for deeper #analyses & #insights
— App Annie (@appannie) August 26, 2020

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.