Annual credit card spending in Brazil 2012-2022, in local currency and USD
The value of payments made with credit cards in Brazil grew by 33 percent between 2020 and 2022. This meant an acceleration from the growth seen in previous years, possibly as Brazilians gained more access to financial services during the coronavirus pandemic. Brazil ranked as the 26th country in the world based on credit card penetration in 2021, the highest percentage found within Latin America. Its credit card penetration, so the ranking adds, was on par with that of France.