An IPO is in the sights of a billionaire Brazilian company in the payments market. Unlike a recent case such as PicPay, listed on the Nasdaq last week, Transire is a hardware. The developer and manufacturer of card machines begins the listing cycle with international expansion and expansion of the product portfolio.
Founded more than ten years ago, the company has navigated relevant changes in the payment equipment market, ranging from regional regulatory issues promoted by the Central Bank to broader transformations in global competition in the segment.
Based in Manaus, Transire has manufactured 48 million since 2015 and has watched this transformation up close. “The market opening promoted by the Central Bank in mid-2015 and even the creation of sub-acquirers in 2018 allowed us to find solutions and diversify”, says the business vice-president of the Transire Group, Fernando Otani.
Payments between those who make sales and card brands and banks. They were launched into a broader scope of Central Bank regulations on market expansion, including, for example, payment institutions (IP).
Until around the 2010s, two companies held the most relevant share of the payment machine market in Brazil: the North American Verifone and the French Ingenico — which stopped manufacturing in the country in 2025. Since then, a lot has changed. Otani, from Transire, estimates that the company currently has a 75% share of payment terminals in Brazil.
Part of the ground was gained due to a global dynamic driven by China. A global leader in the production of payment hardware, Pax has an exclusive contract with Transire to manufacture its products in Brazil and companies such as Newland, another Chinese company, have also gained market share globally.
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On the other hand, tax benefits for installing the factory in the Manaus Free Trade Zone, tax credits for the development of technology in the region and labor for electronic devices in the industrial hub drove the company’s growth. The company produces about 400,000 units per month of machines ranging from $30 to $400.
“Now we are at the moment to pivot this company and transform it, because we have a clear ambition to do the IPO and we are preparing it in some aspects”, Otani tells InfoMoney.
As a first step, Transire stops being just a hardware company and becomes a solutions company. It means including a service unit, including maintenance and delivery of machines; another specialized in security and payments, responsible for integrating terminals with retailers; and a last one on connectivity, focusing on subscribing to a plan including maintenance and software.
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The second step is the internationalization process. The focus is on Latin America and Europe, where the company already has offices in Argentina and Portugal. “In the second half of the year, we will open Mexico. Afterwards, we will prepare to enter the United States market”, says Otani.
Finally, Transire now wants to increase its technological independence from Chinese products by investing in its own technology for the terminals. “It was common in the last 10 years for us to look for ready-made solutions in China, get exclusive representation of products and use all the incentives for nationalization and local production. But the technology wasn’t ours”, says the vice president.
At an event in January, Transire announced 34 new products, from transportation solutions to integrated ATMs with scales, fast-food and even canvas backpacks for event sales activation.
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Given all the changes, the projection is for a 30% increase in revenue for 2026, jumping from R$2 billion in 2025 to around R$2.5 billion. Meanwhile, a consultancy has already been hired to create the IPO framework and, in the coming months, a new one should be hired to follow the path to market opening.
For now, however, it has not yet been defined where the company should be listed. Last week, PicPay, also in the payments sector, debuted on the Nasdaq, on the same day that Agibank announced its IPO also in the United States.
“As a technology company that is building itself and becoming a solutions, software company, it is reasonable and natural for us to think about Nasdaq. I cannot say that our IPO will be in New York, but it is our ambition, our desire”, says Otani.
