Brazil's credit card sector has reached USD 9 billion in revenue in October 2008, growing by 21.3 percent over the same period of 2007, according to the Brazilian Association of Credit Card Companies.

Such an increase is related to 18.6 percent growth in the number of credit cards across the Brazilian market to 107.3 million in October 2008, over the corresponding period of the previous year.
Other factors which contributed to the increase in revenue for the credit card industry include higher spending in the case of every purchase, as well as a growing tendency among consumers to give up other payment options (including paying via checks) and buy from locations that accept credit cards as payment options. The number of credit card transactions reached 256 million, climbing by 19.6 percent over October 2007, while the amount per transaction rose by 1.57 percent, reaching USD 35.2 on average in the period under review.