In October 2018, we further expanded our platform to include payment solutions through Linx Pay Hub in response to our customers’ ever-evolving needs. We believe that our ability to offer payments solutions powered by a full-fledged platform allows us to explore new product verticals at lower customer acquisition costs, differentiate ourselves from other commoditized and/or non-integrated solutions and increase our client loyalty. We believe these services can also be an important source of future growth given our relevant market share in the management software retail sector, high customer retention rates and superior services. In 2019, approximately R$300 billion in GMV were processed in our Linx Core platform. Our goal is to cross-sell and convert as many of our customers into Linx Pay Hub and capture a large share of this revenue opportunity. We are confident in our ability to execute this strategy given our product portfolio integration and compelling value proposition.
Our Linx Pay Hub product line offers wide range of services and solutions to our merchants, including mainly the following:
TEF: a subscription-based model that is fully integrated with our POS/ERP software and provides a faster and safer way for our customers to transact with merchant acquirers and their clients. Our TEF solution has already been adopted at more than 45,000 points of sale;
Linx Pay: Sub-acquiring services to convert our customers into our payments platform; and
Payment split: the ability to split payments between different recipients (such as different service providers or sales channels) and perform a more efficient transaction from an operational and tax perspective.
Linx Digital Account: digital account linked to a prepaid card with Elo flag, natively integrated with Linx Pay and other solutions we offer and that allows the retailer to pay its bills and bank slips, pay commissions to its employees, receive QR Linx payments, and to make wire transfers to third parties and employees, among others;
QR Linx: a QR Code that integrates digital payment applications (e.g. e-wallets) with Linx’s retail clients, allowing the acceptance of new payment methods in an integrated and native way, including conciliation. We already signed partnerships with Brazil’s biggest e-wallets.
Payments Link: It allows retailers to offer customers a secure link to pay for their purchases via messaging applications. The tool is fully integrated with the retailer’s POS, eliminating the need for a website to make a not-in-person sale.
With the combination of our core and digital solutions and the capabilities of our payments platform, our customers are able to have a seamless experience.
