Physical cash payment has been increasingly neglected by Brazilians. According to the researchThe Global Payments Report, carried out byWordplay, cash accounted for 48% of payments in 2019. Meanwhile, in 2023, The number dropped to 22%., And the projection is that, in 2027, is even lower: only 12%.
The study revealed that Brazil is more advanced than Japan and Germany in the digitization of payments. Between credit and debit cards, digital wallet, Pix and QR Code, There are severalpayment methodsavailable that do not require the exchange of banknotes and coins.
The Pix, instant payment system of the Central Bank of Brazil (Bacen), It was launched in 2020 and quickly became popular.. According to the Brazilian Federation of Banks (Febraban), the medium was the most used in the country in 2023, corresponding to, approximately, R$ 42 billion in transactions
Facing the New Scene, Febraban confirmed the termination of the DOC and TEC transfer system. No bank processes these transactions anymore .
Me andonline ticket issuancecontinues as an alternative for consumers, who can choose between completing the transaction digitally or printing the document and making the payment by non-digital means. A Wordplayfound that the form of payment was responsible for 2,9% of e-commerce payments by 2023.
When used well, credit card offers advantages
According to Bacen, the year 2023 ended with more than 212,305 million active credit cards in the country. The number represents the growth of 3,3% compared to the previous year.
According to Serasa, nine out of every ten Brazilians use more than one credit card to make purchases. Many flags and institutions encourage use by offering prizes and benefits, like the accumulation of points when making purchases on a credit card that can be exchanged for airline tickets, products, among other benefits
Meanwhile, Serasa warns that, despite the advantages, as an ease of installment payments for purchases, cashbackand miles, the late payment interest rates are high and, therefore, it is necessary to set limits to stay away from debt
The lifting of theWordplay it was recorded that 35% of online purchase payments in Latin America are made with credit cards, followed by digital wallets (21%). Meanwhile, many of these wallets are linked to a registered card and offer the possibility of using it to pay bills and make transfers
Digital payment is not a reality for everyone
In some countries, like Sweden and the Netherlands, stores are allowed to refuse payment in cash. The reality is already being discussed in Brazil and, in 2023, at least four bills to eliminate the circulation of cash were underway in the Chamber of Deputies.
Um deles é o PL 4068/20, proposed by Deputy Reginaldo Lopes (PT-MG), that aims to make the use of digital means for payments mandatory, abolishing the use of cash in all financial transactions in the country.
The digitization of payment methods presents advantages, how practicality and the reduction of production costs. However, ensuring that the process occurs without excluding a portion of society is still a challenge
The TIC Households survey, released in 2023 ,by the Regional Center for Studies on the Development of the Information Society (Cetic.br), reports that there are about 36 million peopleofflinein the country. The percentage of Brazilians without internet reaches 53,3% in rural areas. For these people, payment by physical means is a necessity
A study by the Locomotiva Institute showed, yet, that low-income Brazilians, the classes D and E, they are the ones who use cash the most. For 65% of the people in this range, he is the main way to shop
