Mobile banking overtakes internet banking
The Brazilian Central Bank said the mobile channel has surpassed internet banking for the first time in the country. It said some 24.5 billion banking transactions were carried out using smartphones and tablets in 2017, up 46.7% when compared to the 16.7 billion transactions in the prior year. Internet banking transactions, at 20.6 billion, had a minor increase in relation to 2016, when 20.3 billion transactions via that channel were recorded. Transactions carried out at the branch dropped to 8.1 billion from 8.9 billion in 2016. Increased number of smartphones and provision of 4G are said to be the contributing factors for the increased acceptance of mobile banking in the country.