Brazilians use less and less cash, according to BC

Brazilians use less and less cash, according to BC
Brazilians use less and less cash, according to BC
With the creation of Pix in November 2020, behavioral changes generated by the covid-19 pandemic and the increase in card transactions, Brazilians use cash less and less to make day-to-day payments. The assessment is from the study of the Central Bank (BC) Evolution of Digital Means for Performing Payment Transactions in Brazil.

In 2019, cash withdrawals at ATMs and branches totaled BRL 3 trillion. In 2020, the total dropped to BRL 2.5 trillion and to BRL 2.1 trillion in 2021 and 2022.

In 2020, transactions through Pix totaled R$ 180 million. The following year, BRL 9.43 billion, and in 2022, BRL 24.05 billion.

BC publishes the study Evolution of Digital Means for Carrying Out Payment Transactions in Brazil

Disclosure/Central Bank

When it comes to higher value transactions, the study indicates that there is a preference for bank transfers (inter and intrabank), which accounted for about 65% of all financial volume in 2022. Pix was responsible for 12 % of transactions.

According to the study, in relation to the average value of operations “there is a predominant use of Pix and cards (especially prepaid) in lower value transactions, indicating their important role in financial inclusion, leaving traditional transfers as the main options for corporate transactions, of substantially higher amounts”.

“In this sense, it is reasonable to assume that Pix and the cards played an important role in digitizing broader layers of the population”.

Medium values

BC publishes the study Evolution of Digital Means for Carrying Out Payment Transactions in Brazil

Central Bank/Disclosure

The BC also noted “significant growth in the number of transactions with debit and prepaid cards”, influenced by the expansion of financial institutions. “These institutions have played an important role in financial inclusion, by providing payment accounts to people who previously had no relationship with the financial system, being, for example, the institutions where many young people begin their relationship with the financial system”, he highlighted. the study.

Foto de © Marcello Casal JrAgência Brasil

Economia,banco central,Pagamentos,PIX,transferências bancárias,dinheiro em espécie

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