The Payment System Used by Auxilio Emergencial

Strengthening Income Stabilization through Social Protection in Emerging and Developing Economies

“…PIX allows free person-to-person transfers and merchant payments in real-time on a 24/7 basis. PIX helped to mitigate some of the limitations of the virtual debit card for face-to-face purchases, by allowing users of digital social savings accounts to make payments even when their virtual card is not compatible with the machines used by retailers (Lara de Arruda et al 2021b). It is estimated that 40 percent of AE beneficiaries did not have a bank account before the pandemic, so the introduction of the digital social savings accounts has fostered financial inclusion.…”