In 2020, during the pandemic, government financial aid payments to lower-income households helped keep the Brazilian economy more active. These payments, made through banking institutions, contributed to the rise of fintechs that simplified the process of opening bank accounts and accessing basic services such as credit cards – all in just a few clicks.
The focus on specific niches within financial services and credit lines in Brazil is expected to grow in the forecast period. Targeting niches allows for the creation of financial products better aligned with customer needs and specific characteristics, enhancing the user experience and increasing the chances of customer loyalty.
The growth of fintechs in Brazil has been driven by high demand for more accessible and personalised financial services, especially amongst unbanked or underserved populations by traditional banks. Combining advanced technology with an agile model, fintechs offer innovative products such as free digital accounts, fast credit, and no annual fee cards, which simplify consumers’ lives.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Brazil with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See all of our definitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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