RIO DE JANEIRO, BRAZIL - Technological advances have significantly reduced the use of what was once the most traditional means of payment among Brazilians: checks.
Since 1995, check clearing has dropped 93.4% in the country, according to a survey released yesterday, January 14, by the Brazilian Federation of Banks (FEBRABAN).
The downward trend is continuous and has not stopped over the last 26 years. In 2021, the clearing volume fell 23.7%.
But despite the drop, the method of payment is far from extinct. Last year, 218.9 million checks were cleared nationwide. The volume totaled 287.1 million in . . .
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