- PicPay launches its own POS and TEF machines to serve 1 million business clients.
- The company reported a 2023 profit of R$37 million, its first since inception.
- These initiatives aim to boost transaction volumes and engagement within its ecosystem.
PicPay, serving one million entrepreneurs, is expanding its market reach by launching its own point-of-sale (POS) and electronic fund transfer (TEF) machines. This move targets corporate clients, aiming to enhance product offerings beyond individual consumers. In 2023, PicPay achieved a significant milestone by recording its first annual profit of R$37 million since its inception in 2012.
The company initiated its acquisition platform last year, allowing it to directly capture, process, and settle card transactions via its app. This development has made PicPay independent from other acquirers and has effectively reduced operational costs. Over the past year, transactions through PicPay’s platform, including QR code, Pix, and credit card payments, totaled R$29 billion, securing about 1% of the total market share.
PicPay’s expansion into card machines includes offering POS devices used in commercial establishments for credit/debit card payments and other digital payment methods like QR codes and Pix. The new TEF machines will connect to the acquirer during card transactions, enhancing efficiency and security.
Moreover, PicPay continues to diversify its services for corporate clients, offering payment links, invoice installment plans, working capital, receivable pre-financing, and a no-annual-fee prepaid card. Additional tools for e-commerce and a credit marketplace further complete their suite, providing business clients with comprehensive payment solutions and financial management tools.
