In 2020, around 36 percent of transactions made with coronavoucher funds in Brazil were used in processing virtual debit card payments. Cash is still preferred by a segment of the Brazilian population. Thus, 15 percent of transactions came in the form of withdrawals, while a fifth of all transactions were Boleto payments (a popular Brazilian cash-based payment method). Only eight percent of transactions were used in bill payments, making it the lowest use case.
Coronavoucher is part of the recovery package implemented by Brazil during the COVID-19 pandemic. It consisted on direct transfers targeting low income informal workes distributed through Caixa Econômica Federal.
Distribution of coronavoucher funds granted in Brazil as of August 2020, by use
the coronavoucher program is an emergency subsidy for low-income informal workers to be distributed by the state owned bank Caixa Econômica Federal (CEF).
Supplementary notes
The source adds the following information "the research for this report took place between June and August 2020, focusing on Brazil, Mexico, Argentina and Colombia. It consisted of an intensive review of data made available by governments and financial institutions, as well as in-depth interviews with 18 financial service providers, including the most relevant traditional banks and neobanks/fintechs".
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MasterCard. (October 12, 2020). Distribution of coronavoucher funds granted in Brazil as of August 2020, by use [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1228059/coronavoucher-funds-brazil-use/
MasterCard. "Distribution of coronavoucher funds granted in Brazil as of August 2020, by use ." Chart. October 12, 2020. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1228059/coronavoucher-funds-brazil-use/
MasterCard. (2020). Distribution of coronavoucher funds granted in Brazil as of August 2020, by use . Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1228059/coronavoucher-funds-brazil-use/
MasterCard. "Distribution of Coronavoucher Funds Granted in Brazil as of August 2020, by Use ." Statista, Statista Inc., 12 Oct 2020, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1228059/coronavoucher-funds-brazil-use/
MasterCard, Distribution of coronavoucher funds granted in Brazil as of August 2020, by use Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1228059/coronavoucher-funds-brazil-use/ (last visited November 13, 2024)
Distribution of coronavoucher funds granted in Brazil as of August 2020, by use [Graph], MasterCard, October 12, 2020. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1228059/coronavoucher-funds-brazil-use/
