Credit card payments increase by 42%

In the first quarter of 2022, credit card payments increased by 42.4% compared to the same period in 2021, according to the balance sheet released on Tuesday (10) by the Brazilian Association of Credit Card Companies. Credit and Services (Abecs). Also according to the association, credit card payments moved R$ 478.5 billion in the first three months of the year.

Payments with debit cards moved BRL 235.4 billion in the first quarter, which represents an increase of 15.2% compared to the same period in 2021. The biggest increase was in transactions made with prepaid cards, which totaled BRL 44.6 billion in the first three months of 2022, an increase of 148.4% compared to the same period last year.

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Increase in online shopping

According to Abecs, the increase in the use of credit cards is linked to the expansion of online commerce and also to the control of the covid-19 pandemic in Brazil.

“the very [variante] Ômicron, when there was an improvement, starting in February, the numbers started to follow what would be a normality of urban life”, highlighted Rogério Panca, president of the association.

From January to March this year, purchases made over the internet had an increase of 35.2% compared to the first quarter of last year, closing the period with a value of R$ 162.4 billion. Of this amount, R$ 157.9 billion were handled with the use of credit cards, an increase of 35.4%.

Rogério also points out that due to the low base of comparison, which was the beginning of 2021, the percentage of growth is very high, since the first three months of last year were still being adopted measures such as the quarantine against the covid-19 pandemic, which put restrictions on the economy.

overseas credit card

With the reopening of the economies of the countries, spending abroad also grew. In the first three months of the year, spending by Brazilians with credit cards outside the country reached R$ 849.7 million, which means an increase of 107.9%. On the other hand, spending by foreigners in our country increased by 64.5% over the same period last year, reaching US$ 665.5 million.

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