Note

September 09, 20 - 9:42 am - LABS

Brazilian Emergency Aid prevented debit card purchases from falling in second quarter

The Brazilian financial Emergency Aid created to soften the coronavirus pandemic economic effects prevented debit card purchases from falling in the second quarter. It is what Abecs, the Brazilian association that represents the electronic payments sector, pointed out, says Terra.

If it weren’t for the aid, purchases made by Brazilians with a debit card would have dropped 2.3% in the second quarter compared to the same period last year, according to Abecs’ balance sheet. With the aid, there was a slight advance of 0.3%, to BRL 150.4 billion, practically stable in relation to the second quarter of 2019. The contribution of the aid was around BRL 4 billion.

In late August, Abecs disclosed that digital purchases made through cards grew 18.4% in Brazil in the first half of 2020. In total, BRL 876.4 billion was spent via cards, of which BRL 173.5 billion was spent on card-not-present purchases, that is how the sector calls the online card transactions.