Brazil’s credit card financing market has reached a historic milestone, closing 2024 with R$611.2 billion in outstanding balances—an all-time high. This figure marks a 12.8% increase over 2023, when the total reached R$541.7 billion, and an 8.3% rise compared to just the third quarter of 2024 (R$564.5 billion). The momentum is clear: Brazilian consumers are using credit cards not just as a payment tool, but increasingly as a line of credit. This growth reflects both a shift in consumer behavior and a transformation in the competitive landscape of issuers.
Over the past decade, the market has expanded by R$449.3 billion, an astonishing 277.6% jump from R$161.8 billion in 2014. That’s nearly a fourfold increase in ten years, and signals how entrenched credit card financing has become in Brazil’s consumer credit ecosystem.
Behind this growth lies an increasingly competitive field. Traditional banks still dominate in volume, but fintechs and new players are gaining ground—fast. Nubank, which now ranks among the top issuers in Brazil, has increased its market share by 1.18 percentage points in 2024 alone. It is not the only one. MASTER leads the year in share growth with a 1.73 point gain, while MercadoPago.com, PicPay, BRB, Neon, and DMCard all posted notable advances. These firms are not just riding the wave—they’re actively reshaping it.
Even so, the top 10 issuers still concentrate 79.74% of the market. This elite group includes heavyweights like Itaú, Bradesco, Banco do Brasil, Santander, and Caixa Econômica Federal, alongside rising challengers like Nubank, Inter, and Porto Seguro. The presence of both legacy banks and digital-native institutions in the top ranks speaks volumes about the market’s hybrid structure: tradition and innovation are now competing head-to-head.
For investors, service providers, and industry strategists, understanding who is winning—and how—is critical. The latest edition of our market intelligence report, “Credit Card Market in Brazil – Issuers Ranking 2014-2024,” provides the full picture. With detailed, issuer-level data spanning a decade and updated through December 2024, the report reveals market shares, growth trajectories, and competitive positioning of every major player.
Download the full report here:
👉 https://rankingslatam.com/products/credit-card-market-in-brazil-issuers-ranking
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