BRASIL | PagBrasil is the first Payment Service Provider in Brazil to support debit cards of all major Brazilian banks. In Brazil, debit cards are called 'cartão de débito' and are increasingly replacing other means of payment such as boleto bancário, checks and cash. PagBrasil now supports debit cards of 12 banks covering all major entities in Brazil in addition to domestic credit cards, boleto bancário and online banking transfers.
Brazil moves towards Debit Cards
Debit cards are issued by all major banks in Brazil and are therefore very popular and widespread. Debit card payments represent a stable 35% of all card payment revenues, according to Abecs, the Brazilian Association of Credit Card and Service Companies. In terms of number of transactions, debit cards represent 50% and have recently slightly overtaken credit cards. The importance of debit cards is underlined by the fact that towards the end of the year 2013, 64% of all Brazilians over 18 years had a debit card, while 50% had a credit card.
'Debit cards give access to lower income classes'
Ralf Germer, the CEO and co-founder of PagBrasil, remarks: “Apart from contributing to an important growth potential and increase in conversions for our clients, debit cards give access to lower income classes where credit card penetration is less. In addition, there is practically no risk of chargebacks and debit card payments are also perceived as secure by the user. Compared to boleto bancário payments, the immediate payment confirmation is another advantage.”
PagBrasil is the premier online payment processing service in Brazil designed for Brazilian and international e-commerce platforms. Merchants gain access to the broadest set of local payment methods, which may immediately multiply your sales within Brazil. The company is an expert in the entire sales and buying process with more than 15 years of online payment processing experience in Brazil.
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