Brazil. By the end of 2016, the installed base of payment and smart bank cards in Brazil is expected to reach 450 million. That is one of the conclusions of the recent report published by IMS Research entitled "The World Bank Card Market – 2011 Edition".
The figure, although high, is not surprising, since the South American giant is the second largest market for this type of product in the Americas and by far the most important in South America, according to Don Tait, author of the study.
"The number of cards in circulation is growing rapidly. So it is expected to grow even more as banks and financial institutions join its use. In addition, the preparation for the World Cup in 2014 and the 2016 Olympic Games in Rio de Janeiro will have a positive impact on demand for years to come," Tait said.
In addition to the above, Tait highlighted the country's good economic prospects, stating that although there is a stagnation in GDP growth forecasts in many developed countries, the latest IMF reports point to a favorable performance of Brazilian GDP, pointing to an annual growth of between 3.8% and 4.1% between 2011 and 2015.
