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Brazil card purchases may rise 6.5 pct next year, group says
December 16, 2016 / 1:23 PM / 9 months ago

Brazil card purchases may rise 6.5 pct next year, group says

SAO PAULO, Dec 16 (Reuters) - Credit and debit card purchases of goods and services in Brazil may rise an average 6.5 percent next year, roughly unchanged from this year’s estimate, a sign more consumers and companies continue to pick electronic means of payment over cash, an industry group said on Friday.

In a statement, the group representing merchant acquirers and payments processors known as Abecs said the volume of card purchases could total 1.22 trillion reais ($364 billion) next year, up from an expected 1.14 trillion reais in 2016.

$1 = 3.3542 reais Reporting by Guillermo Parra-Bernal; Editing by Chizu Nomiyama

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