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March 2013 data from comScore showed Brazil as one of the leading online banking markets in Latin America, with 43.7% of internet users accessing web banking services. Venezuela and Chile showed slightly higher penetration rates than Brazil, with online banking reaching 47% and 43.8% of the coutries’ internet users, respectively, while Argentina ranked fourth, at 28.9% banking on the web.
In July 2013, IBOPE Media recorded a slightly lower share of online banking users in Brazil, at 39.3% of internet users, or 22.1 million unique visitors to online banking sites that month. But this was still a 20% increase over the number of online banking users recorded by IBOPE in July 2012.
On top of high penetration rates, Brazil also showed intense usage when compared to more developed markets worldwide. In its July 2013 study, IBOPE found that the average internet user in Brazil spent over one hour and 22 minutes banking online that month, the most of any of the countries surveyed, including Germany, the UK and the US. Germany and the UK came in second and third, respectively, but with nearly half as much time spent on online banking.
José Clazans, consultant for IBOPE Media, explained that the large gap in time spent between Brazil and the other markets is a consequence of online banking users frequently visiting multiple banking websites. Similary to comScore, IBOPE’s research does not monitor mobile activity, which may also help explain the lower metrics for more developed markets, where presumably a greater share of internet banking happens over smartphones and tablets.
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