The digital bank Nubank has seen an increase in the use of the brand’s credit card for online purchases since the beginning of the pandemic. According to data released by the company, the percentage of use of the payment method in online purchases reached a peak of 45% in April 2020.
The number represents a jump of 13 percentage points compared to April 2019, when online represented 32% of purchases made with the digital bank card. According to Nubank, the company’s projections pointed out that the numbers reached during the pandemic would only be a reality within at least three years.
In addition to registering growth in online purchases by credit card, Nubank also revealed that purchases made in person have declined. The percentage in April 2019 was 68%, but decreased to 55% in the same period this year.
Virtual card and drop in spending
The Nubank study also points out that the virtual credit card, which can be used directly in the app, gained more followers for online purchases, with a growth from 29.8% to 35.7% between February and August. Approximation payments also became more popular and jumped from 6.17% to 7.09% in six months.
Despite the growth in the use of technologies, spending on credit cards fell during the pandemic. In April, monthly expenses with the means of payment fell by 20%.