The advancement of technology has significantly reduced the use of what was once the most traditional means of payment for Brazilians. Since 1995, check clearing has dropped 93.4% in the country, according to a survey released today (14) by the Brazilian Federation of Banks (Febraban).
The downward trend is continuous and has not stopped in the last 26 years. In 2021, the volume of offsets fell by 23.7%.
Despite the decline, the sport is far from extinction. Last year, 218.9 million check sheets were cleared across the country. The volume totaled 287.1 million in 2020 and reached 3.3 billion sheets offset in 1995.
Financial volume
The financial volume of check transactions also plummeted. In 1995, the amount handled in this modality totaled R$ 2 trillion. The amount dropped to BRL 668.4 billion in 2020 and BRL 667 billion in 2021.
One of the main problems in the use of checks also plummeted. The number of bounced checks dropped from 56.8 million in 1997 (when Febraban started researching this historical series) to 15.2 million in 2020 and 13.6 million last year.
Technology
According to Febraban, electronic means of payment won the preference of Brazilians. Digital channels (internet and mobile banking) currently account for 67% of transactions carried out in the country.
Since the launch of Pix in November 2020, the trend has intensified. The instant electronic transfer system that works 24 hours a day recorded 7 billion transactions and generated BRL 4 trillion in just over a year of existence. According to Febraban, the tool has the support of 71% of Brazilians and is well evaluated, with approval growing from 76%, at the time of launch, to 85% today.
