Business

In Brazil, Santander sells 20 thousand wearable payment devices in 45 days

Santander cut the price of payment wearables by 50% to drive sales

wearable payment device
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Pushed by concerns regarding the pandemic, Brazilian consumers have been showing a rising interest towards contactless payments. It was amid this scenario that Santander Brazil saw 20 thousand of its wearable payment devices, such as watch straps and bracelets, being sold in a span of 45 days. The information is from Estadão newspaper.

The Brazilian division of the Spanish bank adopted a bold sales promotion to boost the interest: Santander cut the price of these wearable devices by 50%. The new base attracted amid the pandemic adds to the total amount of 350 thousand mobile devices that belong to Santander clients, not including digital wallets such as the Way bank card app and Samsung Pay.

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Contactless payment methods were still in early stages in Brazil, but now, the technology seems to be gaining ground. According to the Brazilian Association of Credit Card and Services Companies (Abecs), the volume traded with this technology increased by 456% YoY, reaching BRL 3.9 billion from January to March.