From the Newsroom*
São Paulo – Brazilians used credit, debit and shop cards to spend R$ 38.3 billion (approximately US$ 18 billion) in the first two months of 2006. The value is part of study ABECS Monitor of the Card Market. According to the study, in the first months of 2006, there has been an increase of seven million cards in circulation in the country when compared to the total in circulation at the end of 2005.
In the month of January expenses with cards in Brazil totalled R$ 19.6 billion (US$ 9.2 billion) and in February R$ 18.7 billion (US$ 8.8 billion). If compared to the same period in 2005, payment through electronic means grew 28%, according to the Brazilian Association of Credit and Service Card Companies (ABECS).
*Translated by Mark Ament
