PagSeguro PagBank completes the acquisition of
Wirecard Brazil (Moip)
São Paulo, Brazil, November 4, 2020 - PagSeguro Internet S.A. ("PagSeguro PagBank"), a disruptive provider of financial services and payments solutions, and a wholly-owned and fully-controlled subsidiary of PagSeguro Digital Ltd. (New York Stock Exchange: ticker PAGS), announces today that it has completed the acquisition of Wirecard Brazil S.A. ("Wirecard Brazil (Moip)") after obtaining all regulatory approvals.
As of today, Wirecard Brazil (Moip) becomes an integral part of the PagSeguro PagBank Group.
Wirecard Brazil (Moip) has an innovative and experienced team that has built powerful online payment solutions with more than 200 thousand customers, including e-commerce platforms, marketplaces and virtual store platforms. In addition, their online solutions are available through application programming interfaces (APIs) and are integrated into more than 40 virtual store platform systems (e-commerce).
Wirecard Brazil (Moip) offers a broad suite of multifunctional online payment solutions, including:
E-commerce: Several checkout and payment options used on thousands of merchant websites.
Recurrence: Merchants can easily schedule recurring charges and payments from their customers, such as periodic subscriptions and monthly fees.
Split Payments (with and without custody): Widely used by marketplaces to split payments and commissions in real time.
Anti-FraudScreening: Risk models and structured processes to guarantee one of the highest approval rates in the market (98.5% approval), with low chargeback rates.
For PagSeguro PagBank, the acquisition of Wirecard Brazil (Moip) will bring several advantages, starting with incremental Total Payment Volume. In addition, the combination of the key strengths of the PagSeguro PagBank Group (brand, complete portfolio of POS devices, reconciliation of transactions and PagBank) and of Wirecard Brazil (Moip) (a dynamic suite of online solutions that are complementary to PagSeguro PagBank's core solutions), will allow us to offer broader payment options and integrated end- to-end digital payment accounts that are 100% omnichannel for millions of customers.
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 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.
PagSeguro Digital Ltd. +55 (11) 3914-9403/ 9524 firstname.lastname@example.org investors.pagseguro.com
This is an excerpt of the original content. To continue reading it, access the original document here.
PagSeguro Digital Ltd. published this content on 04 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2020 12:40:01 UTC