PIX has emerged among the country's most preferred payment methods.
A recent study of Brazilian consumers released today by
'This survey provides valuable and fresh insights into the Brazilian financial ecosystem,' said
Additional information from the 'Brazilian Experience with Financial Services' survey can be accessed at the company's Resource Center.
Digital Payment Methods are Most Preferred
According to the survey, credit and debit cards are the most preferred payment methods among Brazilians, preferred by 28% of the population. PIX has rapidly emerged as the second-most preferred method of payment, selected by 22% of survey participants, with digital wallets (11%), payment by barcode (9%) and cash (8%) completing the top five most preferred payment types. Notably, although QR code payments became popular during the pandemic, this method is preferred by only 2% of Brazilians.
When it comes to security, survey participants selected cash (57%), chip card (56%), bar code (57%) and digital wallet (51%) as the payment methods they view as most secure. The survey shows that people prefer to use cards to pay bills because of the convenience. The risk of contagion with the coronavirus when handling banknotes and coins is also another factor highlighted in payment choice.
'The practicality and speed with which digital transactions are concluded appeals to Brazilians,' said Signorini. 'We expect the continuing conversion of physical to digital payments in the years to come.'
Mobile Connections are Important
For adult consumers of every age, the mobile phone has become more important than the wallet. According to the survey, 58% of respondents said that it would be worse to lose and never find their mobile phone than their wallet, ranging from a high of 63% among people aged 25 to 34 years to 51% among those aged 55 or over.
The importance of mobile interactions in people's lives was reflected in their reasons for choosing where to keep their main bank account. The main criterion, pointed out by 28% of the interviewees, is the possibility of managing the account through mobile banking or internet banking. In fact, 70% of customers said they would change institutions if they couldn't count on good interaction via mobile phone or computer.
Not having bank fees or having low fees is the second most considered criterion for choosing the main account, mentioned in 18% of cases. Recommendation from family or friends (10%), previous relationship with the institution (9%) and company reputation (8%) are more important than the location of the branch (7%), customer service (3%) and the experience of the team (2%).
In a world moving faster than ever before,
About the Survey
The 'Brazilian Experience with Financial Services' survey was commissioned by
About
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