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Brazil Card Payments Up 23 Percent

By Ben Tavener, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Brazil’s card market in 2011 is poised to grow by some 23 percent year-on-year, with payments by credit, debit and store cards set to reach R$667 billion (US$370 billion), according to Brazil’s Association of Credit Cards Companies and Services, Abecs.

To the end of September (third quarter of 2011) spending had reached R$474 billion, and Abecs predicts that by the end of the year, Brazilian households will make 26 . . .

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