Visa, EBANX to boost digital payments usage in Brazil

Tuesday 14 May 2019 00:26 CET | News

Visa and EBANX have partnered to encourage the use of electronic payments in Brazil, in places where the use of paper money still predominates.

In order to expand the “Cities of the Future” programme through Paraná state, the two companies will install 180 POSs in local businesses of Cascavel and Paranaguá. According to the press release, over the next months of 2019, the intention is to have installed over 3,000 POSs.

In order to understand the benefits that the wider use of electronic payments would bring to both cities, the Visa study Cities without paper money: Understanding the benefits of digital payments was applied. Results show that gains would be transformative in both cities, totalling about BRL 743 million per year for Cascavel and BRL 501 million per year for Paranaguá.

In addition, the same study predicts that, by 2032, the estimated long-term impacts resulting from some direct benefits would be: an additional increase of 1.9% and 1.48% in jobs in Cascavel and Paranaguá, respectively, because of enhance of economic activity; 2.7% and 1.93% increase in salaries; and an increase of 0.73% and 0.6% in GDP, in addition to what would be expected, generated by efficiency with the use of digital payments, resulting in additional increases in productivity of 1.8% and 1.29%.

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Keywords: Visa, EBANX, digital payments, Brazil, POS
Countries: World