Focusing on the Latin American experience, and taking Brazil as an example, this article examines the recent trajectory of cash transfer schemes and how they might develop in the face of the humanitarian, economic and social crisis brought about by the coronavirus outbreak. Will they be reinforced as the one-size-fitsall solution? If so, what form will they take: target programmes or a universal basic income? This contribution explores the prospects for Latin American welfare regimes in the post-pandemic era. The Brazilian case illustrates the choices that polarise the debate in a region marked by profound asymmetries and enduring structural hurdles.