←back to thread

Brazil's government-run payments system has become dominant

(www.economist.com)
666 points jcartw | 2 comments | 08 Apr 25 10:59 UTC | HN request time: 0.001s | source
Show context
Galatians4_16 ◴[08 Apr 25 12:40 UTC] No.43621046[source]▶
Despite a global move towards a cashless society, 54% of Brazilians now opt for cash withdrawals.¹

2024 has seen a surprising reversal, as cash usage makes an unexpected comeback, defying predictions that the world was moving toward a cashless society. With rising cybersecurity threats, concerns over financial privacy, and economic instability, consumers and businesses are increasingly turning back to physical currency as a preferred transaction method.²

¹) https://www.riotimesonline.com/brazil-news/brazils-shift-bac...

²) https://www.adeptswipe.com/cash-makes-a-shocking-comeback-as...

replies(5): >>43621708 #>>43621731 #>>43622380 #>>43625587 #>>43628225 #
1. marcosdumay ◴[08 Apr 25 14:43 UTC] No.43622380[source]▶
That second link is completely wrong about Brazil though. Not uninformed, just every time Brazil is mentioned, it says the complete opposite of the reality.

And the claim in the first article is about using cash at any time. And it's by a ridiculous small margin. So in fact it's claiming that almost half of the population doesn't use cash at all.

replies(1): >>43624621 #
2. luqtas ◴[08 Apr 25 17:56 UTC] No.43624621[source]▶
more than 50% of the rural brazilian population doesn't hav internet access (that's 36 million people) [0]

the central bank admin. director says physical money is still the base of brazilian transactions [1]

[1] https://exame.com/economia/dinheiro-em-especie-ainda-e-a-bas...

[0] https://www.ecommerceupdate.org/noticias/brasileiro-esta-dei...