Brazilian fintechs and neobanks such as Nubank and Banco Inter are participating in the effort to deliver the payment of the BRL 600 emergency aid from the Brazilian federal government as a way to mitigate the impacts of COVID-19 crisis.
More than 3.5 million beneficiaries have indicated different financial institutions (other than the state-owned Caixa Econômica Federal) to receive the aid, in a total of BRL 2.3 billion, until last Monday. BRL 124 million were delivered through Nubank to 193,293 people and BRL 43.58 million through Banco Inter, to 67,951 account holders, according to a Mobile Time report
These fintechs are in the fifth and sixth position respectively of the most used banks to receive the benefit, in the list of the 50 banks that are distributing the resources. PagSeguro is also on the list, with 22,413 people and the amount of BRL 14.88 million, in addition to Banco Original, with 20,674 people who received the sum of BRL 13.42 million.
Banco Original also offered an extra deposit of the first installment of BRL 60 to account holders who choose to receive the benefit through their channels. Other neobanks such as C6 brought in the amount of BRL 6.3 million for 10,263 people and BS2 received BRL 1.54 million to 2,476 people.
Since April 9th, when the payment of the BRL 600 emergency aid from the Brazilian federal government began, 75.7 million people downloaded the Emergency Aid app and 50 million people have already received the benefit.