Demand for contactless cards to grow in Brazil

Timetric recently published a new market research report that shows the customer demand for contactless cards is prepared to grow in Brazil.

As of today, M-payments are not the most popular option in Brazil, but they are estimated to increase in popularity within the next few years. Experts attribute this to the growing young population, government support and favorable economic conditions.

In 2014, Brazil’s mobile penetration stood at 133.5 percent. In 2010, it was at 100.6 percent. Experts believe that this figure will exceed 153 percent by 2019.

The report, titled “The Cards and Payments Industry in Brazil: Emerging Trends and Opportunities to 2019,” shows that contactless cards demand is estimated to grow between 2015 and 2019 in Brazil. Experts attribute this growth to the upcoming Olympic games in 2016.

Contactless cards first reached Brazil in 2013, thanks to the Ourocard card launch from Banco de Brasil.

These prepaid travel cards are an opportunity for prepaid cards issuers, especially in light of the government’s decision to tax credit cards used outside of Brazil. This decision was made in 2011.

The report provides readers with a comprehensive guide to the payments and cards industry based in Brazil. In addition, the study evaluates the traditional payment environment and also explains alternative payment tools. Further details are available at www.MarketPublishers.com.