In Mexico, and throughout Latin America, the use of smart card technology is on the rise. 30 percent of the bankcards in Mexico are smart cards, and the country plans on pushing that statistic to a full 100 percent by 2008. In Brazil, where nearly 98 percent of payment terminals are equipped for smart cards, the fraud rate has reportedly dropped by 80 percent. Governments are also using the technology for such applications as healthcare cards. All told, Latin American countries spent upwards of $200 million (USD) on card technologies last year, a 70 percent increase over the previous year.