Brazil Cards and Payments Market Insights and Forecast to 2022 1 | Page 4

Brazil Cards and Payments Market Underlying Factors
The major factors driving the growth of the market are the changing lifestyles of consumers
with varying demographics, the increasing popularity of online shopping and the rising
disposable incomes of the populace. Apart from the above, the changing consumer
preferences are projected to change the dynamics of the channel of card payments during the
forecast period in Brazil. Compared to conventional middle class populations, the Brazilian
middle class, which have an average age of 34 years have distinct preferences. These
customers are becoming averse to spending based on credit. The above factors have led to the
diversification of the market and have also played a role in the emergence and rise of the
charge and prepaid card categories.
Brazil Cards and Payments Market - Geographical Segmentation
The Brazil Cards and Payments Market is analysed geographically under the region of Latin
America. Brazil accounts for the largest share of the Latin America Cards and Payments 2017,
followed by Argentina. The changing consumer preferences and distinct demographics of the
country are expected to keep the market outlook stable in the near future.