StoneCo Isn't Just Disrupting the Status Quo, It's Building a New Economy In Brazil
In spite of COVID-19 and the ensuing disruption to the economy, Brazilian e-commerce technologist StoneCo (NASDAQ: STNE) is having a decent year. The stock is returning to all-time highs, helped by a better-than-expected Q1 2020 report card and a quick rebound in transaction activity after a steep drop in late March.
StoneCo got its start in merchant acquiring, a system that enables merchants to accept digital payments for services, usually by linking a cardholder's account, a digital payment network, and the merchant itself. This customer need has driven the company since its inception in 2012. Using new technologies and a seamless relationship with its customers, StoneCo has disrupted other high-pain-point services for small businesses as well and fueled its fast rise.
But as Stone's Executive Officer of Investor Relations Rafael Martins Pereira explained to me during a recent interview, the digital payments technologist is quickly expanding to create something that doesn't exist yet in South America's largest country.
Source Fool.com
