Only 6% of Brazilians still make payments with physical money

The use of money in Brazil has shown a significant drop in recent years, with only 6% of the Brazilians who claim to use it often in 2024, compared to 43% in 2019, according to Google Survey. This change is mainly guided by the pix ascent, the instant payment service of the Central Bank, which has become the most used form of payment in the country.

The “Brazilian and their relationship with money” survey data, issued by the Central Bank, show that PIX is used by 76.4% of the population, since the most frequent mode for 46% of the interviewees. On the contrary, the liquidity, which in 2021 was used by 83.6% of the population, dropped to 68.9% in 2024, occupying the third position in terms of use and the second in frequency of use, with 22% of the interviewees who use it most often.

Search for Google, “transformation payments: from money to the code”, confirms this trend, indicating that adhesion to physical money as a frequent payment method has decreased considerably. The release of pix in 2020 during the Bolsonaro government, together with the pandemic and emergency aid, which encouraged the opening of digital accounts, contributed to this digitization of payments. In addition, the beginning of finance open in 2021 and the increase in transactions by pix strengthen this transformation.

Despite the drop in frequent use, physical money still maintains a certain importance, in particular for small payments (up to R $ 20) and among people with lower income. The use is more common in the north -est, south -east and midwest and less in the north and southern Brazil. While PIX is the choice for higher values, the credit card remains relevant due to benefits such as limit, installment and reward programs, being the most frequent means for 42% of transactions in the commercial establishments.

This evolution indicates a scenario in which the diversification of payment is crucial, combining physical and digital options to meet the different needs of consumers.

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Source: Terra

Rose

Rose James is a Gossipify movie and series reviewer known for her in-depth analysis and unique perspective on the latest releases. With a background in film studies, she provides engaging and informative reviews, and keeps readers up to date with industry trends and emerging talents.