Business

Stone expands range of services and products to increase revenue beyond the acquiring market

Just over a year after its debut on the stock exchange, the company is testing pilots for granting credit and services with a focus on micro-entrepreneurs

Photo: Stone/Facebook.
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  • According to Reuters, the company is also expected to start a media campaign soon, focused on micro-entrepreneurs, through the joint venture it created with Grupo Globo last year;
  • The joint venture’s brand has not yet been released.

According to a Reuters text published by Exame magazine, Stone is using partnerships to launch new products and services to increase revenues and grow despite the war in the Brazilian acquiring market.

Just over a year after its debut on the stock exchange, the company is testing pilots for granting credit and services with a focus on micro-entrepreneurs. In the case of credit operations for medium and small companies, in a pilot project with a regional bank, Stone already disbursed approximately BRL 185 million.

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According to Reuters, the company is also expected to start a media campaign soon, focused on micro-entrepreneurs, through the joint venture it created with Grupo Globo last year. The joint venture’s brand has not yet been released.

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“We believe that, with this, we will have a less volatile year in 2020,” the director of investor relations at Stone, Rafael Martins, told Reuters. He stressed that predictions that competition between Rede and Cielo last year–the companies zeroed rates and drastically reduced the profit margins on transactions–could seriously affect Stone have not been confirmed.

In 2019, until September, the company saw the volume of transactions grow 56%, and the revenue increase 70%.