Card transactions expected to grow 16pc in Brazil in 2019

Credit and debit card transactions in Brazil are likely to grow 16 percent in 2019, reaching 1.8 trillion reais ($465 billion), industry group Abecs said on Tuesday in a statement.

In 2018, card transactions went up 14.5 percent, as more Brazilians used cards instead of cash to pay for goods and services.

Abecs said card transactions are expected to reach 40 percent of Brazilian families’ consumption in 2019, up roughly 2 percentage points from the last three months of 2018