The Visa study indicates a change in the behavior of Brazilians, as payments in the education sector were mainly made via boleto.
Digital payments for educational services grew in Brazil in 2022. According to data collected by Visa Consulting & Analytics (VCA), the number of transactions in the first half increased by 74.6% over the previous year. The study also highlights the month of June which, as it marks the re-enrollment period, resulted in a 119% increase in transactions.
The survey also looked at the average amount of digital transactions made in person, which grew by 93% between the first half of 2021 and 2022. At the same time, online transactions in the same category increased by 41.4% in the same period. Through the data, the Visa team noted that even after the return of face-to-face businesses, consumers continued to adopt digital payment channels.
The move by companies to keep their online payment platforms running is in line with the investment Visa has made in fraud prevention solutions. The company has invested more than $9 billion in security over the past five years and has 1,000 experts to protect its network from malwarezero-day attacks and insider threats.
The states that stood out the most in the first half of 2021 and 2022, registering the highest number of digital payment transactions in the education segment, were: São Paulo, Rio de Janeiro, Minas Gerais and Paraná. In São Paulo alone, the increase was 87.2%.
For Oscar Pettezzoni, executive director of VCA, the growth is very positive for the importance of the education sector for the country, since transactions were traditionally made by bank transfer. “With this data we are able to perceive the influence that the digital payment experience has on consumers. We see an awareness of them and of companies, which goes beyond practicality. It is the security of carrying out a secure transaction in an industry that is changing life,” he concludes.
The adoption of digital payments is growing
With the arrival of PIX extension, Brazilians have become more skilled in payment technologies, both by approximation, digital wallets, QR code, among others. After its 2nd anniversary, Pix has become the best money transfer tool, reaching the record 99.4 million transactions in just one day.
One study pointed this out 41% of Brazilians prefer digital means of payment under the use of cash or physical cards. According to the Brazilian Association of Credit Card and Service Companies (Abecs), approximate payments recorded 37.7% in September 2022.
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Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
