From the Newsroom*
São Paulo – The number of transactions using credit cards, debit cards, and store cards reached 1.12 billion in the first quarter this year. Turnover from card transactions was R$ 65 billion (US$ 31.3 billion), 17% more than in the same period of 2006, according to data provided by the Brazilian Association of Credit Card Companies and Services (Abecs).
The highlight in the period was transactions using debit cards. These transactions increased by 18%, up from R$ 16.4 billion (US$ 7.9 billion) in the first three months of 2006 to R$ 19.2 billion (US$ 9.2 billion) during the same period of 2007. Compared with the first quarter of 2006, there were 45 million more transactions and 15 million more cards in circulation, totalling 431 million transactions and 191 million cards.
Credit cards accounted for the largest share of expenses for electronic means of payment, with a turnover of R$ 39.3 billion (US$ 18.9 billion) in the first quarter of 2007. Credit card expenses saw a 17% increase compared with the same months of 2006.
*Translated by Gabriel Pomerancblum