Card transaction volume up 24.5% in Q2

- Wednesday, August 31, 2011

Card transaction volume up 24.5% in Q2

Transaction volume in Brazil's card industry - which includes credit, debit and private label cards - rose 24.5% to 157bn reais (US$97.2bn) in the second quarter over the same period in 2010, the latest figures published by local card association Abecs show.

Credit card transaction volume expanded 25.3% year-on-year to 92.9bn reais in 2Q11, with some 843mn credit card transactions in the three months and around 162mn credit cards in circulation at end-June.

Debit card transaction volume rose 24.8% the second quarter, with more than 792mn transactions between April and June and some 258mn cardholders at end-June.

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Private label cards accounted for 18.8bn reais in transaction volume, up 19.8% from 2Q10.

Overall for the first six months of the year, transaction volume in Brazil's card industry reached 302bn reais, up 23.8% from the same period last year, Abecs figures show.