Technology

Contactless payment triples in Brazil with COVID-19 pandemic, says Visa

In June, this modality accounted for about 3% of payments intermediated by the card brand, three times as much as a year before

Photo: Reuters/Valentyn Ogirenko/File Photo
Ler em português
  • Between January and June, the participation of this channel among all the payments intermediated by Visa practically doubled;
  • By devices, the credit card is the most used for contactless payments, with 65% of the total transactions made through this channel, with an average ticket of BRL 86. In the debit card, the average ticket was around BR 46 in June.

The use of payment by approximation has tripled in Brazil in the wake of greater demand from people for non-contact resources in the face of the COVID-19 pandemic, although it still represents a small portion of the total transactions, pointed out a study by Visa.

Last June, this type of payment, which includes cell phones, bracelets, and other mobile devices, represented about 3% of payments intermediated by the card brand, triple what it represented a year earlier. Between January and June, the participation of this channel practically doubled.

READ ALSO: Almost half of Brazilians with smartphones have already used QR code for payments

In the first half of the year, the segments that received the most payments by approximation according to Visa were markets and stores related to food, such as fruit and vegetables, conveniences, coffee shops, not including restaurants and fast food; gas station; pharmacies; and bakeries.

According to Oscar Pettezzoni, director of Visa Consulting & Analytics, increasing the limits for approximation transactions can accelerate this movement.

READ ALSO: A decade will be lost in economic terms for Latin America due to the COVID-19, says ECLAC

The increase in the limit for transactions without a password, from BRL 50 to BRL 100, which is expected to happen soon, will allow more people to make payments with the technology, increasing the average ticket we see today

Oscar Pettezzoni, director of Visa Consulting & Analytics.

By devices, the credit card is the most used for contactless payments, with 65% of the total transactions made through this channel, with an average ticket of BRL 86. In the debit card, the average ticket was around BR 46 in June.

Translated by LABS

Get the best insights about Latin America market in your inbox