Business

Digital wallets have been gaining popularity among Brazilians

Brazil has about 600 digital wallets available

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  • More than half of Brazilians use digital wallets;
  • Payments using NFC have already been used by less than a quarter of smartphone users (23%).

Brazilians are using more and more digital wallets, as a research by Globo’s Market Intelligence shows: almost two thirds of smartphone users in Brazil (61%) say they use one of these payment methods, according to Valor Econômico. Brazil has about 600 digital wallets available.

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Brazilians also are using payments by QR Code. The tags, which started to be used in the country more consistently in the last two years, have already been used by more than a third (35%) of people.

Payments using NFC technology arrived in the country in 2008 and have already been used by less than a quarter of smartphone users (23%). For instance, QR code payments via Brazilian state-owned bank Caixa Econômica Federal app reached BRL 24.5 million in three days since it was launched.