As of December 2023, the Brazilian credit card market has shown significant activity and growth. Notably, Nubank has maintained a strong position, ranking 3rd with a market share increase of 3.04%, culminating in a 12.0% share compared to 8.9% in December 2022. Will Bank also exhibited considerable progress, securing the 15th rank with a 0.99% rise in market share, resulting in a 1.3% share from a mere 0.3% the previous year. XP, positioned at 13th, experienced a 0.40% increase, achieving a 1.4% market share, up from 1.0% in 2022.
Mercado Pago, at the 20th rank, saw a 0.35% uptick, raising its market share to 0.7% from 0.4% in the prior year. Inter, occupying the 11th spot, recorded a 0.32% increase, with its market share rising to 1.6% from 1.3% in December 2022. These shifts reflect dynamic changes in market shares among key players in Brazil's credit card sector.
Additionally, the overall credit card portfolio volume reached 533 billion Brazilian reais, marking a 9% year-over-year growth. The number of loans issued also saw a positive trend, totaling 273.2 million, which represents a 6.1% increase compared to the previous year. These figures highlight the robust expansion and increasing penetration of credit card usage in Brazil, indicating a healthy and competitive market environment.
Mercado Pago, at the 20th rank, saw a 0.35% uptick, raising its market share to 0.7% from 0.4% in the prior year. Inter, occupying the 11th spot, recorded a 0.32% increase, with its market share rising to 1.6% from 1.3% in December 2022. These shifts reflect dynamic changes in market shares among key players in Brazil's credit card sector.
Additionally, the overall credit card portfolio volume reached 533 billion Brazilian reais, marking a 9% year-over-year growth. The number of loans issued also saw a positive trend, totaling 273.2 million, which represents a 6.1% increase compared to the previous year. These figures highlight the robust expansion and increasing penetration of credit card usage in Brazil, indicating a healthy and competitive market environment.
