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PagBank records its highest recurring net income in Q124, reaching 522 million BRL – an increase of +33% in the annual comparison

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TPV reached 112 billion BRL (+27% YoY), more than twice the industry’s growth and 31 billion BRL in deposits, reinforcing the balance sheet for expansion of receivables anticipation and credit concession.

SÃO PAULO, May 24, 2024 /PRNewswire/ — PagBank (NYSE: PAGS), a complete digital bank in financial services and payments solution and one of the largest digital banks in Brazil, announces its results for the first quarter of 2024 (Q124). The main highlights of the period include a record recurring net profit  of 522 million BRL (+33% YoY), while the net accounting profit reached 483 million BRL (+31 YoY%).

Alexandre Magnani, CEO of PagBank, points out the continuity of the good results presented in the last quarters, highlighting the expressive gain of market share in payments (acquirings), balancing growth with profitability, while the Company establishes itself among the largest financial institutions in Brazil in number of clients:

“We are more than 31 million customers and our execution has been consistent. We have consolidated our value proposition for micro, small, and medium-sized enterprises, facilitating the financial life of individuals and businesses. At the same time, we have captured opportunities for client-consumers who do not have a relationship with payment machines through payroll loans, our broad investment platform, and the offer of a complete bank,” says the CEO of PagBank.

In acquirings, the TPV registered was 112 billion BRL (+27% YoY), growing in all segments (MSMBs and Large Companies, E-commerce, and Cross-border businesses1). In digital banking, PagBank reached 66 billion BRL in Cash-In (+48% YoY), a metric that represents the financial volume received from other financial institutions in PagBank accounts, excluding acquisition, especially Pix, business account products, and salary portability.

The substantial volumes of TPV and Cash-in led deposits to record numbers of nearly 31 billion BRL (+64% YoY and +11%QoQ) despite the less favorable seasonality of the period, given that in the first months of the year, customers have more significant disbursements to honor the payment of taxes, such as IPTU and IPVA, and school yearly supplies, among other expenses.”We stand out for offering instant settlement for our customers and carrying out easy operations via Pix, leveraging our TPV and Cash-In volume in PagBank accounts. This, added to the fact that we have a banking license since 2019, means that we have the agility of a fintech and low funding costs like a traditional bank,” says Magnani. 

According to Artur Schunck, CFO of PagBank, operational growth does not harm the Company’s capital allocation. On the contrary, the acceleration of revenue growth and discipline in costs and expenses were the main levers of the record result. “The financial margins of the consolidated business were high. Our profit grew more than 30% compared to the Q1 2023, even with additional disbursements linked to the new cycle of growth and diversification of the operation, including geographical expansion and marketing actions in the period”, says Schunck.

The credit portfolio resumed growth and reached 2.7 billion (+8% QoQ) at the end of March, focusing on low-risk products such as consigned credit, the anticipation of the year withdrawal of FGTS (Severance Pay Fund), and credit cards with a limit attached to PagBank’s CDBs (a type of fixed-income investment). Schunck believes that despite short-term macroeconomic uncertainties regarding interest and inflation behavior, the worst is in the past, and he is confident in the credit strategy:

“We crossed the pandemic, the significant high-interest rate period, and one of the worst credit cycles in Brazil and still we have built a robust balance sheet and diversified our credit portfolio in terms of customers, products, and risks. Now, we are opening up opportunities to accelerate the concession and gradually expand the offer of credit products from the next few months,” says the CFO of PagBank. 

Other Highlights

Net revenue in the quarter was 4.3 billion BRL (+15% YoY), driven by the strong growth of the acquirings, led by MSMBs (micro, small and medium-sized businesses) and the advance in large accounts, with emphasis on online, cross-border, and automation, as well as the growth of higher margins in financial services. The number of clients reached 31.4 million, reinforcing PagBank’s position as one of the largest digital banks in the country.

In the period, PagBank was recognized as the best bank in Brazil and awarded the RA1000 seal of quality in service, both granted by the Reclame Aqui ranking and as one of the 50 most valuable brands in the country, according to a survey conducted by Kantar BrandZ.

Among the launches of the quarter, main highlights were PagBankPartnerships, a relationship and integration program with software companies and commercial automation; Seguro Empresarial (Business Insurance) offering coverage against fires, electrical damage, theft, burglary, and natural disasters, among others; and Tap to Pay Online, a new and exclusive technology in Latin America that allows the customer to run online transactions by bringing credit or debit card closer to the mobile phone on e-commerce platforms. In addition, PagBank has started to offer 1% cashback on all purchases made with the digital bank credit card and new investment options, such as the CBD, with a 130% CDI rate-variation yield.

“This current moment reminds us very much of our phase between 2018 and 2019, in which we grew in a fast and profitable way, and launched several products. We are very optimistic about the coming months and years of the Company”, says the CEO of PagBank. 

Rio Grande do Sul

PagBank has closely monitored the potential impacts of the ongoing climate tragedy in the state of Rio Grande do Sul and the developments in its operations. The Company’s TPV exposure in the state is similar to the state’s share in national GDP – around 5%. The Company says t is early to share some numbers since consumption in the affected regions have decreased due to the temporary closure of the business, while moving people to neighboring cities and states can increase consumption in unaffected areas.

“At this time, our focus is on supporting flood victims, especially our professionals working in the state of Rio Grande do Sul, through donations from PagBank and its professionals, in cash and goods, as well as offering special support to our affected customer,” says Magnani. 

Check out the financial results of PagBank in Q124 here.

About PagBank
PagBank promotes innovative solutions in financial services and means of payment, automating the purchase, sale, and transfer process to leverage individuals’ and enterprises’ businesses simply and securely. A company of the UOL Group – leader of the Brazilian Internet – PagBank acts as an issuer and acquirer, offering digital accounts and providing complete solutions for online and face-to-face payments (by mobile devices and POS devices). 

PagBank also has a wide variety of means of payment, such as credit and prepaid cards, bank transfers, payments by billet, and balance in the account, among others. PagBank (PagSeguro Internet Payment Institution S.A) is regulated by the Central Bank of Brazil as an electronic money-issuing payment institution, issuer of post-paid instruments and acquirer, having partnerships with the leading credit card issuers. Its parent company, PagSeguro Digital, is listed in the U.S. (NYSE: PAGS) and regulated by the Securities and Exchange Commission (SEC). The distribution of investment funds is carried out by BancoSeguro S.A., authorized by the Central Bank of Brazil, the Securities and Exchange Commission, and affiliated with ANBIMA. 

Visit the PagBank Press Room

1 GCECs: The Brazilian acronym for large companies (annual revenues above 12 million BRL), e-commerce and cross-border businesses.

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SOURCE PagBank

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China Matters’ Feature: Bridging Cultures at China-CEEC Expo: Central and Eastern European Voices in Ningbo

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NINGBO, China, May 23, 2025 /PRNewswire/ — As the 2025 China-Central and Eastern European Countries Expo opened in Ningbo on May 22, cultural and business exchanges between China and the CEE region were spotlighted. Among the many contributing to this growing partnership are Vladimir Tzanev and Fang Yu, in different professions but with a shared connection to Ningbo.

 

The Bulgarian pianist Vladimir Tzanev has spent the past two decades working across China. But Ningbo, in eastern China’s Zhejiang Province, is where he and his family want to call home. “My children were born here—they’re Ningbo natives now,” he says in a smile. Alongside his wife, a fellow musician from Latin America, Vladimir established a music society in the city that welcomes students from all walks of life. “Music is a language that opens any door,” he says. “And here in Ningbo, we found an audience eager to listen.”

Fang Yu, meanwhile, has a different story related to the city. After years of working in Slovakia, she returned to China in 2015 and dove into trades with CEE countries. Based in Ningbo, she helps connect Chinese companies with partners from CEE countries, especially through platforms like the China-CEEC Expo. “Trades are built on human connection,” she explains. “And Ningbo is a perfect bridge.”

This year, Slovakia is one of the guest-of-honor countries of the Expo, which holds special meaning for Fang. It was during a government delegation visit from Ningbo to Slovakia that she established a connection with the city. Since then, she’s seen firsthand how face-to-face conversations and shared experiences create trust and opportunities. “When we started, few people knew about these countries or their products,” she recalled. “Now, thanks to events like the China-CEEC Expo, more products from the region are stepping into the spotlight.”

From classical music to Slovakian wine, Vladimir and Fang are helping build more than just business ties—they’re weaving personal stories into the fabric of China-CEEC cooperation. And Ningbo, with its open arms and mind, is right at the center of it all.

YouTube Link: https://www.youtube.com/watch?v=VQo35CxFus4

 

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SOURCE China Matters

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eFuse Market worth $737.4 million by 2030 | MarketsandMarkets™

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DELRAY BEACH, Fla., May 23, 2025 /PRNewswire/ — The global eFuse Market is anticipated to grow from estimated USD 557.0 million in 2024 to USD 737.4 million by 2030, at a CAGR of 4.9% during the forecast period. Growth in the eFuse Market is being accelerated by more challenging electronic systems and higher demands for reliable protection in automotive, data center, and consumer devices. Because advanced eFuse technologies are small, accurate in current limitation, and can diagnose themselves, more are being used. It ensures that high-power systems are safe, work efficiently, and maintain proper temperatures. By using WBG semiconductors, companies are able to develop faster and more energy-efficient supply chain solutions. Using technologies makes it easier to prevent the damage caused by circuits. Improved eFuse solutions can be added to the battery management system of electric vehicles (EVs), so overcurrent and overheating are detected and dealt with quickly. Circuit protection has improved in various sectors after the introduction of eFuses. eFuses supports real-time detection of faults and effective handling of electricity because of improved technology. As a result, the system can handle overcurrent, overvoltage, and temperature issues smoothly. This means that eFuses in automotive use can deliver exact current restriction and fast fault finding, which is suitable for electric vehicles. This helps manufacturers ensure safety, reduce moments when things break down, and reduce power consumption in important and reliable systems.

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Thin shrink small outline package, by application

Many electronics use eFuses in TSSOP packages because they are compact. It is an excellent solution for applications in automobiles, telecoms, and personal electronics, given that cooling and dependability are very important. If any issue related to fast faults is found, the system imposes a high current control and it can stop to avoid overheating. Thanks to TSSOP eFuses, the system remains safe even when it is exposed to high currents and voltages. What is more, their function supports quick fault detection, so the system responds immediately if a fault occurs within the circuit, which keeps it working well at all times. TSSOP allows manufacturers to efficiently manage power flow, and therefore, eFuses are chosen for modern, advanced electronic devices due to their ability to solve thermal issues.

Auto retry, by type

Auto Retry, by type, is anticipated to maintain strong growth momentum during the forecast period in the eFuse Market. eFuses are categorized into two types: auto retry and latched. The increasing adoption of auto retry eFuses stems from their ability to automatically reset after a fault is detected, ensuring continuous operation in critical systems. It results in less downtime and better reliability, which is why auto retry eFuses are preferred for use in automotive electronics, industrial systems, and data centers. Due to a focus on keeping systems running and tolerating faults, auto retry eFuse sales are predicted to increase a lot. Many industries are starting to use auto retry eFuse technologies to guarantee effective results and cut down on the work needed for upkeep in crucial electronics.

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Asia Pacific segment is expected to be the fastest-growing region during the forecast period.

During the forecast period, Asia Pacific is expected to be the fastest-growing region in the eFuse Market. There is strong demand for eFuses in Asia, fueled by government action and investments to update power grids to cope with huge electricity use. China, Japan, and India have begun many grid expansion efforts, helping to increase reliability and leading to more eFuses being adopted in the region.

Key Players

Some of the major players in the eFuse Market are Littelfuse, Inc. (US), TOSHIBA ELECTRONIC DEVICES & STORAGE CORPORATION (Japan), Semiconductor Components Industries, LLC (US), and Texas Instruments Incorporated. (US), and Alpha and Omega Semiconductor. (US). The major strategies adopted by these players include acquisitions, product launches, agreements, partnerships, and expansions.

Littelfuse, Inc. (USA)

Littelfuse, Inc. (USA) leads in the eFuse Market by providing advanced circuit protection. Littelfuse’s presence in over 20 countries helps the company deal with the challenges in the semiconductor industry. The company’s main aim is to develop eFuse technology to produce smaller and more efficient solutions for automotive, industrial, and consumer areas. The company spends a lot on research and development to create eFuse chips, including simple Protection ICs designed for 5V through 28V, which safeguard the systems. More than half of the company’s earnings come from the electronics segment, which helps various companies with tools, servers, and telecom infrastructure. Littelfuse secures its number one ranking in the market by acquiring other companies, forming partnerships, and introducing new products, offering reliable circuit protection for electric vehicles and data centers.

Semiconductor Components Industries LLC (USA)

Semiconductor Components Industries LLC (USA) is becoming a prominent name in eFuse by delivering dependable circuit protection. Based in regions across North America, Europe, and Asia, Onsemi works to mitigate the risks in the variable semiconductor industry. The company focuses on inventing new eFuse products that are built to handle tasks in healthcare, IT, and consumer electronics, particularly in servers, hard drives, and industrial-grade relays. The company strives to enhance its eFuse technology through extensive research, enabling features that respond to today’s demands. The Power Solutions Group is a major contribution to Advanced Micro Devices’ overall income, and it provides eFuse solutions for both cars and industrial purposes. To improve its marketplace, Onsemi increases production thanks to government incentives, forms partnerships to meet global chip shortages, and grows by finding new and reliable electronic solutions in this period of change.

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Related Reports:

Automotive Fuse Market

Circuit Protection Market

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PLAYSAFE ID RAISES $1.12M TO MAKE ONLINE GAMING SAFER

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 – Pre-seed round backed by Early Game Ventures, Hartmann Capital, and Overwolf –

LONDON, May 23, 2025 /PRNewswire/ — PlaySafe ID, the platform for gamers that keeps cheaters, hackers, bots, and predators out of games, has raised $1.12M (€1 million) in pre-seed funding to bring trust, fairness, and accountability to gaming communities, without compromising player privacy or freedom.

The round was led by Early Game Ventures, with participation from Hartmann Capital and Overwolf. The raised capital will fuel rapid expansion and strategic platform integrations, as the company gears up for a major go-to-market push and targets 250,000+ users in the coming months.

“This round gives us the firepower to move fast, expand our world-class team, and partner with games that want the most fair and safe environment for players to enjoy,” said Andrew Wailes, CEO of PlaySafe ID. “This is now more important than ever before. With cheating in games as a mass-epidemic that ruins fun for players daily, and the Online Safety Act ushering in long overdue requirements for child protection in gaming, PlaySafe ID’s mission to safeguard gamers isn’t just relevant – it’s now essential for compliance and the future of global gaming.”

Built with a privacy-first mindset, PlaySafe ID issues a verified, anonymised, and game-agnostic digital ID that proves a user is real and hasn’t been caught cheating or being inappropriate to children in games. These are core problems that continue to erode online experiences across games. By offering a single, secure identity layer, the platform empowers both developers and communities to enforce fair play across titles, without sacrificing player anonymity, or the open and creative nature of games.

Early Game Ventures, which led the round, is known for backing early-stage frontier tech. “We believe PlaySafeID is building the trust layer for gaming—and beyond. In a world where AI and anonymity are eroding safety and fairness, PlaySafeID restores balance with identity, transparency, and accountability,” said Cristian Munteanu, Managing Partner at Early Game Ventures. “PlaySafeID builds a network-effects flywheel. Once a gamer is verified through PlaySafeID, that identity becomes portable across games, platforms, and genres. The more developers adopt it, the more valuable it becomes to players—and vice versa. Eventually, the verified identity becomes a default layer of the gaming stack, just like your Steam account or your Xbox Live profile. It’s a winner-takes-all kind of play.”

Hartmann Capital, an investment firm focused on emerging digital ecosystems, also participated in Playsafe ID’s pre-seed round. “Gaming has quickly become the new social center of our world, with over 3 billion active gamers globally. Despite its immense social and economic value, the gaming ecosystem remains largely ungoverned. Accountability is fragmented across platforms, allowing bad actors to evade consequences by simply creating new accounts or migrating between games.” said Felix Hartmann, Managing Partner at Hartmann Capital. “Playsafe introduces a judicial system for the digital world—ensuring accountability, safety, and fairness in online spaces that have grown increasingly toxic and uninhabitable. As a universal authority beyond any single game or even nation, Playsafe establishes a digital rule of law across multiplayer platforms worldwide.”

PlaySafe ID is currently in integration talks with several major gaming platforms, with first partnerships set to launch later this year. 

For further information:
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Emma Weeks
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About PlaySafe ID

PlaySafe ID stops cheating, botting, and child abuse in games. The company enables players to enjoy gaming at its fairest by issuing anonymised ‘PlaySafe IDs’ to users who verify themselves. With a single ID issued to each user, penalties can now be issued to users who are caught cheating or being inappropriate to children across all PlaySafe Protected games. The company was founded in response to the cheating and bots prolific in online games, and the growing need to keep children safe from predators and bad-actors.

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SOURCE PlaySafe ID; Hartmann Capital

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