Business

90% of bank accesses in Brazil are made by mobile phones

Brazilian fintechs and traditional banks push up the mobile use in their apps

Nubank has 98% of accesses made by mobile. Photo: Shutterstock
  • Nubank has 98% of its accesses made by mobile;
  • Caixa Econômica Federal registered 90% of mobile accesses.

A survey carried out by Comscore shows that mobiles are the preferred method for Brazilians to access banking services, with 90% of users adopting it, as reported by Canal Tech. ‘Financial’ is among the ten most sought after and accessed categories, with more than 106 million unique users.

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The Comscore survey also points out that fintechs were responsible for this mobile advance. The overwhelming majority of fintechs use apps for handling services. Nubank, for instance, has 98% of accesses made by mobile. But Caixa Econômica Federal, a state-owned bank, registered 90% of mobile accesses.

Nubank is also the fintech that most engaged reactions, shares and comments on social media networks, followed by Bradesco and Caixa Econômica Federal.

Mobile transactions in Latin America in 2019

Another research by Comscore shows that digital audiences continue to shift towards mobile devices. Nearly 40% of Latin American and Asia Pacific audiences used only a mobile device to go online during Q4 2019, compared to North America’s 14% and Europe’s 24%.

Latin America and Asia Pacific share of mobile transactions approaches the 60% threshold. The data shows both Latin America and North America
with a relatively stable share for mobile wallets throughout
2019, with 1-in-3 and 1-in-5 online mobile transactions
paid using mobile wallets, respectively.

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Notable payment apps from around the world which have gained traction in their respective region include Mercado Pago in Latin America, Apple Pay in North America and Visa Checkout in the U.K.

Comscore also points that mobile now represents the majority of online transactions across all global regions tracked. This is especially apparent in Asia Pacific and Latin America where there is higher mobile dependency.