Six out of ten Brazilians in social classes A, B, and C use digital payment methods as channels for payment of bills, purchases, and transactions over the internet.

Interactions and opening of accounts

Brazilians use smartphones the most to perform financial transactions (24.3 percent), according to the study. The practice is embraced by 14 percent of respondents heard in Mexico and 11.4 percent in Colombia.

In Brazil, the majority of respondents stated that they carry out banking operations mainly through a connected cell phone, followed by withdrawals from banks (15.9 percent), transactions using a personal computer (14.4 percent), branch service (12.9 percent) and withdrawals from ATMs (ten percent).

A further distinction between Brazilian respondents and those from other countries was the opening of accounts through mobile devices connected to the internet: 65 percent compared to 52 percent in Mexico and 48 percent in Colombia.

By contrast, increasingly fewer people go to a bank branch in Brazil to conduct banking transactions. According to the survey, 58 percent of respondents reported going to these facilities, while in Colombia and Mexico, adherence is almost two-thirdsf of the interviewees, 64 percent and 65 percent, respectively.

Cards

Brazil also leads in the use of credit cards. From the total, 57 percent reported using this method more frequently than debit cards. The rate was 38 percent in Mexico and 28 percent in Colombia. Almost 74 percent of Brazilians said they use both credit and debit cards.

Source: riotimesonline