Brazil sees growth in NFC payments

Payments through near field communication technology (NFC) are seeing a steady increase in Brazil, with 285% growth in November 2020 in relation to the same month last year, according to research.

The study published by Rede, the payments arm of Brazilian bank Itaú Unibanco, also noted that transactions using NFC through channels such as e-wallets, smartwatches and cards equipped with the technology have seen a steady monthly increase.

Brazilians tend to use contactless mostly with credit cards, which account for 65% of all transactions carried out through that method.