Central Banking

Brazil second in world for non-cash payments

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Brazil has left the other Brics countries - Russia, India and China - behind in terms of payments, registering 20 billion non-cash transactions in 2010 compared with 13.1 billion in the other three countries combined.

The World Payments Report 2012, published on October 9 by Capgemini, the Royal Bank of Scotland and Efma, suggested Brazil was so far ahead of other Brics countries it made little sense to still refer to them as a group when it comes to payments. "The Bric acronym no longer works

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