Mobile Banking Use Rises Exponentially In Brazil

Mobile banking is becoming increasingly popular in Brazil, with more consumers making use of mobile banking services for the execution of daily financial transactions.

The number of transactions performed by Brazilian citizens on their mobile phones increased significantly in 2018. Compared to 2017, mobile banking use increased by 24 percent in 2018. While mobile banking is mostly used to check banking statements and balances by many people, the number of other transactions such as money transfers went up by a factor of almost 80% in Brazil. This reveals that Brazilian citizens have become more dependent on their mobile phones for the execution of their financial transactions.


By Ali Raza via LearnBonds


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