Stoneco (STNE) Payments: Total TPV

Measures the total transaction volume processed, indicating the scale of Stoneco's payment operations and its market penetration.

TPV shows long-term growth but clear deceleration into 2025 and continued seasonality, and management now guides flat near-term volumes with only mid-single-digit growth for 2026. For investors that means volume alone is a less reliable earnings lever going forward: StoneCo is explicitly pivoting to banking/credit margin expansion, cross-sell and buybacks to sustain EPS. Monitor H2 execution on retention, onboarding and provision normalization—if churn and higher provisions persist, TPV softness could blunt the upside from credit and capital returns.