In May 2017, PagSeguro acquired a majority stake in R2Tech, expanding its portfolio of financial services. R2Tech is a financial technology company, operating both in Brazil and abroad, which develops and offers solutions for financial management, including receivables management, reconciliations, payments, billing and settlement, invoicing, gateways, among others. PagSeguro is a payment processing company, which operates credit and debit cards, and also the largest online payment platform in Brazil. It is part of UOL, an internet company of content, products and services, controlled by Grupo Folha, one of the largest and most traditional media groups in Brazil.
