We were surprised by Cielo’s earnings, which was the 6th beat in a row to market consensus. In addition, Consolidated Net Income reached R$ 184.6mn in 1Q22 (+10% above Street), +35.9% YoY, due to excellent well cost control.…
The settlement between different payment service providers will be done in a new centralized infrastructure called Instant Payment System (“SPI”), owned and operated by the BCB.…