Despite the health crisis and higher subsidies offered to our clients through this period, PAGS was able to combine growth with profitability. A couple of questions also. But going forward, looking at Q3, Q4, we prefer to have more visibility on those quarters. It's going to be an opportunity for us. So once you open your account, you can have a virtual card right after that and use it. You can just sign up in three minutes. So we are kind of rolling out new projects, of course, to increase the stickiness, increase readiness of these users. Transfer Agent. We don't have dependence in specific industry. Rewards. This partnership will also reinforce PagBank card usage. Then we saw some changes that gas stations coming back. That's why even with lower investment of marketing, we already had 826,000 new PagBank users in these two months. *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. You can change your choices at any time by visiting Your privacy controls. Phone: (+55 11) 3914-9524. And the answer is they just stopped because their businesses are closed or they decided not to do this anymore and will come back after the health crisis. Can you just help us understand that? Part of that is also because of the COVID-19, that people are being more digitalized. View Transcript 177.3 KB. Yes, we see that trend in our base. 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. Yes. And number three, we did have more additional revenues compared to Q1 2019. And we will keep investing in our long-term strategy, in people, products and growth. And we are confident that we can do that, very confident. Comparing Q1 '20 with Q4 '19, our revenues grew 1%, despite the strong seasonality in Q4, while our peers revenues decreased 8% and 5%. On average, 53% of our clients use at least three products of our ecosystem. The Company is focused primarily on micro-merchants, small companies and medium-sized companies in Brazil. Our payroll portability feature is also ramping up, growing almost 37% sequentially. Mario Pierry -- Bank of America -- Analyst. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Good to hear you. Andre Cazotto - Head of Investor Relations. They were informal. Stay all healthy and safe. Hi, Eduardo. Investor Relations. In January this year, we started offering more and more cash backs to QR codes. So the cap for PagBank is very low, I would say, because we leverage the brand using PagSeguro ecosystem, using UOL. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. And is that creating an opportunity for you? Thank you for your question. But we -- people that use our app, it's very simple. Where we are, on a case by case, understanding the needs of each client and trying to help them as much as we can. Right now, it is not that big as Alcaro just said. Next question comes from Jorge Kuri, Morgan Stanley. Our TPV comes -- a little bit more than one-third coming from capitals and the other two-thirds is from the small cities and countryside. So that's part of the transaction that we expect is going to be shifted from cash to plastic or through electronic transaction. We will not decelerate growth, but we will try to be profitable as much as possible. Same thing that we need for PagSeguro until 2014, '15. If they don't adopt PIX, probably it won't be successful. Thank you. We work in a third-party partnership model with different healthcare companies. Andre speaking. Where are we in that path? So it's an increase. PagBank Health works in a monthly subscription model, with prices between BRL9.9 and BRL14.9 per month, and offers a diversified number of medical and dental appointments, including remote appointments during the COVID crisis, exams and pharmacies discounts in the whole country at low cost, everything in app. Our credit card strategy is also targeted to our best merchants. And we have -- regarding the type of credits that we offer to our clients. Hi, Jorge. Gas stations went down a lot. That's the number of transactions not only in TPV because the average ticket sometimes is lower. PagSeguro donated thousands of masks to public hospitals, donated more than 200,000 food baskets and promoted online concerts with donations of cash, food and health items to UNICEF Brazil. Now I'd like to turn the floor over to Mr. Ricardo Dutra for his closing statements. But as we don't have too much concentration, we could see that it could, let's say, have the TPV coming back in 86%. Can you maybe talk through what's driving that resilience in your micro merchants? Being tech and independent allow us to think exclusively on our clients' financial needs, and consequently, combine growth with profitability. Institutional; Corporate Profile; News & Events. Brenda Agosto (787) 773-5302 Newsmedia@evertecinc.com. This is explained by higher cash generation, higher PagSeguro clients' deposits as well as higher receivables discounting in volume and duration, resulting in BRL22 million of additional interest expenses when compared to the fourth quarter of 2019. So regarding TPV, we didn't see, let's say, this trend coming up that people that lost their jobs that they are using the device as their first income. Q4 2020 Avis Budget Group Inc Earnings Conference Call. Felipe, this is Alcaro speaking. PagSeguro is an e-commerce company that intermediates payment between sellers and buyers by offering a billing option via email for traders who do not have a site or a well-structured e-commerce and it has agreements with several banking institutions so that sellers can offer buyers different payment methods. If you are not an account holder, please contact aescriturais@bb.com.br . First, we officially started our partnership with Shell, one of the largest gas station companies in Brazil. Talking about marketing, we decreased the marketing expenses in Q2, as we said before, in such a way that we do not hurt our business growth. We can see here that the bank has been a very clear beneficiary of the corona voucher, right? Yes. The -- for those who are not aware of what is going on in Brazil, the government is giving BRL600 for close to 50 million, 60 million people in Brazil. Thanks, Ricardo, and hello, everyone. The restaurants are also coming back. First of all, I hope you and your families are well and safe. We should continue to deploy new products and services on payments, banking and software fronts. On the top left chart, we present our solid balance sheet, ending the quarter with BRL8.1 billion in cash, plus our net position between accounts receivable from card issuers less payables to merchants. It's very small, as you can see in the presentation. So one product such as the merchants that we have in the base, it's -- you just can take a look at TPV. Once in May, we also observed one last working day due to a national holiday in the beginning of the month. Investor Relations. We are in the middle of this situation with COVID-19, so we're very careful about credit origination. Did you reduce that a lot, I guess, in the second quarter? Regarding Q3 and Q4, we kept in our budget the same marketing investment that we planned for the year. Summary By Date (with Search) This page shows the institutions and funds most likely to invest in PAGS / PagSeguro Digital Ltd., based on analysis of their current holdings. So I think the answer to your question is we have seen more interest from consumers in the past months, and it's growing fast -- faster than the merchants. Corporate Participants: Ricardo Dutra da Silva — Executive Officer. Eric Oliveira. That's … Avis Budget Group Reports Positive Earnings and Removes an Additional $1 Billion of Expenses in Third Quarter . It was a very basic account. I remember that, roughly, will be fair to expect BRL600 million to BRL700 million in marketing for the full year. Some of the solutions are: link of payments, a non-card present transaction that can be shared via social media, email or SMS; PedeFacil, a delivery app, PedeFacil is a complete omni-channel that combines payment with software and online menu and online ordering. So they don't care too much about the take rates or the MDRs because at the end of the day, remember, they sell BRL2,000 -- they use it to sell BRL2,000 per month with us. On Slide 12, we present PagBank Health, officially launched in late April. All Files; Press Releases StoneCo Ltd. to Announce Fourth Quarter and Fiscal Year 2020 Financial Results on March 11, 2021. So do you think that this crisis will force, in a way, the low-income part of the population, the long tail, to learn how to use that app and to learn how to use the digital bank, and this could be very good news for you. So the PagBank, let's say, mortality is very low. Or should we expect a little bit lower, a little bit more? We are -- just like we said in the presentation, we decided to accelerate some new initiatives like PagPerto, that's our virtual shopping; PedeFacil, that is our omnichannel for food delivery application. It is getting higher month-after-month. But we can say that 100% what we offer is only for merchants, first. If you look at the U.K. case, for instance, it took a while to get traction. To keep our operations under control, helping our merchants, particularly in the COVID0-19 crisis and following the Central Bank's instructions, we are offering a 90-day grace period on a case-by-case basis. So that is quite high, especially when you look at that on a monthly basis. It's -- and you need -- today, in Brazil, it's very easy to pay the debit transaction. During the first six months of transition following these appointments, Mr. Alcaro and Mr. Schunck will both exercise the role of PagSeguro’s Co-Chief Financial and Investor Relations Officer. So if they cannot sell coconut at the beach, they will work as a plumber, they will paint houses, they will do something because they do need to work. So it's -- although it's credit, we know it's a low-risk credit, so to say, because it's only for the best merchants. In recent trading, shares of PagSeguro Digital Ltd (Symbol: PAGS) have crossed above the average analyst 12-month target price of $60.57, changing hands for $61.49/share. But we -- of course, we could divide just what is pure online, but we are not disclosing that. My question is more on PAGS Capital. On the social side, we announced a partnership with the State of Minas Gerais, and PagBank became the exclusive digital bank to distribute the social aid paid by the government for more than 380,000 public school students. Can you quantify the impact that PagBank might have had there? Hi, everyone and congrats on the numbers. PagSeguro Digital Ltd. (PAGS) Q1 2019 Earnings Call Transcript PAGS earnings call for the period ending March 31, 2019. And before the health crisis, we continue to rescale the product to our best versions, cherry-picking the ones according to TPV, account history, repayment frequency, so on and so forth. That concludes the question-and-answer session. PagSeguro Digital Ltd is a provider of financial technology solution company. Thank you. Hi, Josh, thank you for your question. And year-over-year, our net income grew 13%, while our peers net income decreased 13% and 65%. Victor Schabbel -- Bradesco BBI -- Analyst. Our PagBank app was rated at 4.8 stars in iOS and 4.5 stars in Android, being the most reviewed and best rated app among digital banks and payment peers, also a consequence of our best-in-class product development and user experience-oriented strategy. And there is a lot of transactions that is installment. Avon Products, Inc. Investor Relations Website It's just temporary. And now in Q1, we're closing BRL338 million. And with PagBank and everything else going on, is this sort of a new level for the take rates? We can adjust to go up or to go down, depending what's going on, depending on the opportunity we're seeing. Investor Relations. There should also be plenty of stickiness to the platform when we kind of look at Slide 10, which shows the pace of product development, which, again, is very good. But we don't see churn because of the free accounts. Next question comes from Victor Schabbel, Bradesco BBI. Right now, some states in Brazil are reducing the social isolation and retail volumes are gradually improving. PagSeguro Digital Ltd is a provider of financial technology solution company. Congratulations on the results. So in the first week, we saw a lot of TPV coming from supermarkets and also from pharmacies. Let me ask then a follow-up is related then to the mortality of your clients. It's almost 100% is credit. We are not disclosing the TPV that comes from online and offline, even this [Indecipherable] here. Now I would like to share the management perspectives due to the outbreak of COVID-19, including our initiatives with our clients, employees, community and investors. View Transcript 177.3 KB. Add to Watchlist. So you are in a place you can see, for PagBank users, if you have some offers or discounts or cash backs. These results reinforce the strength of our broad ecosystem, the resilience of our business model and the caliber of our professionals and their execution capability. Hi, Marco, thank you for the question. Congratulations on the numbers. Investors may trade in the Pre-Market (4:00-9:30 a.m. Risk Analysis. And then we support these merchants, and we offer only for the best merchants. Part of that I could see in Q1 -- I mean we are having more interest from people because of the, let's say, the need of digitalization. So it's hard to give you an overview how it's going to be at the end of the year because it depends when the lockdown will be over and how it's going to be the rebound of the economy. They didn't have the transactions in terms of electronics, they used to sell through cash. In April 2016 SumUp has merged with the mPOS company payleven to create the global leader in mobile payment. I also would like to say thank you to all PagSeguro PagBank team who have maintained their focus in supporting our businesses, our customers and partners, as well each other during the past weeks, while almost 100% of us have been working from home. Our employees are our first and main priority. About transaction costs, we had a positive impact in scheme fee rebates of 9 bps in positive Q1. You're right. Because I know you do have a significant or meaningful e-commerce business, and you can discuss where that's focused and how it's been performing. That's clear. Hi guys. It's going to depend how the consumers will adopt it or not. Andre Cazotto — Head of Investor Relations. Can you just talk a little bit about these new users, any change in underbanked, or are they coming from other competitors, both, I guess, in the physical branches or even the digital competitors and kind of what engagement you're seeing out of these new users, to start. Hi. And have you done incremental provisions to face this more challenging scenario? Q3. Starting with Google searches for digital banks, PagBank continues to lead in gaining share over its peers, with 72% of the total shares over digital banks, a consequence of our marketing strategy and product rollout. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Investor Relations Q3 2020 Earnings Presentation. We saw a stronger impact in the second half of March, with a sharp decline in sales for two consecutive weeks due to initial shutdowns in Brazilian retail. So can you share your view on the profitability of your online clients? Perfect. And could you give us any indication on the profitability of the loans that you are giving out right now on the PAGS Capital? So answer to your question. We have clients in every city in Brazil. Some of the other peers also decided to increase the price of their hardware. Thanks. So you're right, we have seen less competition from some of the players. To opt-in for investor email alerts, please enter your … In May, we are seeing until last week, a growth of 11% year-over-year, or 18% up, adjusted by calendar effect. From what we can see, it looks like competition has pulled back significantly through the early part of the pandemic. They can receive a wire transfer and then they [shop out] and then they use it. Eduardo Alcaro — Chief Financial and Investor Relations Officer, Chief Accounting Officer. People, there were more resistance to adopt to digital bank and now they are being forced to adopt and they're trying this digital bank and see that it's useful, that it works, that it's simple. Since the beginning of the operations in October 2018, we have done 150,000 lending contracts. So I agree with you. How different is that, if so, from the rest of your active client base? We also expected a higher net take rate because of the seasonality. Thanks for taking the questions. More Details. Therefore, what I wanted to ask you is why couldn't PagBank's market share double over the next year or two years potentially? … And when it comes to price, that's exactly where this kind of merchant is more sensitive. Next question comes from Jamie Friedman, Susquehanna. Since April, we are revisiting our expense structure, which should allow the Company to maintain the same level of net income margins in Q2 2020 observed in Q1 2020. It's a temporary churn. You may proceed please. PagSeguro Digital Ltd. (PAGS) Q4 2018 Earnings Conference Call Transcript PAGS earnings call for the period ending December 31, 2018. Our take rate ended the quarter at 3.31%, up 19 basis points year-over-year, which is a result of adding healthy TPV in our ecosystem. Next question comes from Marco Calvi, Itau BBA. SumUp has been backed by renowned investors, including Groupon, BBVA Ventures, Holtzbrinck Ventures and American Express. This occurred given social distancing measures implemented in several Brazilian cities, resulting in partial shutdowns as a consequence of the pandemic. The common misconception among U.S. investors is that the company competes directly with rivals like StoneCo (NASDAQ: STNE) and PagSeguro (NYSE: PAGS). That is -- it's hard to say. So at some point, we thought that card would be in one side and would be -- and sometimes it is smaller than that or even higher than that, but it depends on the situation, how the business performed. Investor Services. It's a major company transaction. Next question comes from Josh Beck, KeyBanc. Thank you for the call. We -- you're right, we had close to 170,000 in April and part of May. As Alcaro said before, in Q2, we had the same margins than we had in Q1. Is it industry verticals? Since May 2018, we have delivered almost 40 new products, including hardware, software, banking and services in our Super App. Eduardo Alcaro -- Chief Financial and Investor Relations Officer, Chief Accounting Officer. Just to remember, in September '19, we started paying [Phonetic] in the account. We know that we launched this PagBank account in May 2019. Additionally, we are offering from now onward, unlimited wire transfers at no cost to all our PagBank clients, both merchants and consumers. The common misconception among U.S. investors is that the company competes directly with rivals like StoneCo (NASDAQ: STNE) and PagSeguro (NYSE: PAGS). Some of those players are just starting in these markets so they rely more on marketing campaigns and advertising. I'll take -- of course, I'll take the first question. So probably, this is still very small. Is it geographical presence? Thanks. On Slide 8, we present our highlights in terms of online distribution, Google searches and our app rating.
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