PagSeguro PagBank enters exclusive partnership with Cabify

From now on, Cabify drivers will be able to receive their payments through their PagBank account, and soon users will be able to request and pay for Cabify services in the PagBank application.

São Paulo, Brazil, February 17, 2020 - PagSeguro Digital Ltd., or PagSeguro (NYSE: PAGS), today announced an exclusive partnership with Cabify, an urban mobility platform, primarily focused on improving the method and timing of payments for Cabify's drivers.

Partner Cabify drivers who have a PagBank account will be paid their balances up to three times per week (currently, Cabify driver receive payment only once per week). Through the new partnership, PagBank will also offer special and exclusive benefits for Cabify partner drivers. In the future, Cabify drivers will eventually be able to receive their balances on a daily basis.

Additionally, this partnership expands our PagBank Super app portfolio, as it will allow PagBank users to request and pay Cabify services directly in the PagBank application. Another new functionality is the integration of the PagBank payment method directly in the Cabify application, further expanding payment methods for Cabify's users.

"The possibility of offering the Cabify service in the PagBank application is very innovative in the Brazilian market, as it offers another service improvement for our customers. With these new capabilities, and at no additional cost, PagBank's digital account becomes even more complete," Ricardo Dutra, CEO of

PagSeguro, said.

"Cabify is very optimistic about this partnership, as PagSeguro is a company that has always been focused on the small and micro-entrepreneurs' market and believed that Cabify's drivers or treatment would not be different. In addition, the possibility of offering the Cabify service in the PagBank application is a unique feature for the Brazilian market and an important step for the growth of our user base", commented Pedro

Meduna, Country Manager of Cabify Brasil.

About PagSeguro:

PagSeguro Digital is a disruptive provider of financial technology solutions focused primarily on consumers, individual entrepreneurs, micro-merchants, small companies and medium-sized companies in Brazil. Among its peers, PagSeguro Digital is the only financial technology provider in Brazil whose business model covers all of the following five pillars:

  • Multiple digital banking solutions
  • In-personpayments via point of sale (POS) devices that PagSeguro Digital provides to merchants
  • Free digital accounts that PagSeguro Digital provides to its consumers and merchants with functionalities such as bill payments, top up prepaid mobile phone credit, wire transfers, peer to peer cash transfers, prepaid credit cards, cash cards, loans, investments, QR code payments, and payroll portability, among other digital banking services
  • Issuer of prepaid, cash and credit cards
  • Operate as a full acquirer

PagSeguro Digital is an UOL Group Company that provides an easy, safe and hassle-free way of owning a free PagBank digital account, which is similar to a regular checking account linked to the Brazilian Central Bank's platform, with the feature of accepting payments, where its clients can transact and manage their cash, without the need to open a regular bank account. PagSeguro Digital's end-to-end digital banking ecosystem enables its customers to accept a wide range of online and in-person payment methods, including credit cards, debit cards, meal voucher cards, boletos, bank transfers, bank debits and cash deposits.

PagSeguro Digital's mission is to disrupt and democratize financial services in Brazil, a concentrated, underpenetrated and high interest rate market, by providing an end-to-end digital banking ecosystem that is safe, affordable, simple and mobile-first for both merchants and consumers.

About Cabify:

Cabify, a signatory to the UN Global Compact, connects users and companies through transportation solutions that best meet the needs of the population. Its main objective is to make cities a better place to live. To do so, it seeks to decongest the streets by offering, through technology, safe and quality mobility alternatives

Founded in 2011, in Madrid (Spain), Cabify expanded to Latin America after a few months from the beginning of the operation. The company is currently present in Argentina, Brazil, Chile, Colombia, Ecuador, Spain, Mexico, Panama, Peru, Uruguay and the Dominican Republic, with an adequate performance to meet the needs of each of the more than 130 cities in which it operates. With a predominantly Latin team, Cabify stands out in the sector for betting on local professionals, generating high-value jobs in an industry that is being transformed by technology and innovation. Cabify is committed with actions dedicated to social responsibility and aligned with Sustainable Development Goals, defined by the UN, being the first MaaS in Latin America to compensate 100% of the CO2 emissions generated in its operation.

Contacts:

Investor Relations

PagSeguro Digital Ltd. +55 (11) 3914-9403/ 9524 ir@pagseguro.cominvestors.pagseguro.com

Attachments

  • Original document
  • Permalink

Disclaimer

PagSeguro Digital Ltd. published this content on 17 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 February 2020 19:31:03 UTC