Of course, we do this range, because we have many moving parts here. But just to give an overview of what’s going on in Brazil here. We have some moving parts that can help TPV, such as the additional salary that people have received the 13th salary and also the holiday season with Black Friday and Christmas season that people usually spend more money. But this year it’s kind of weird, because we don’t know how it’s going to be the usage of this additional salary. All the population is very, very with debit at this point after the pandemic. We see some consumptions constrained due to the lower credit offer in the market from bank issuers. And we also have — we had right after the elections, we had this truck driver strike right after the second round of the presidential elections for two or five days depending on the region of Brazil.
So they also create a little bit of mess. Not to say that we just see the beginning of the World Cup and you don’t know how it’s going to be the impact. We estimate here that could impact us between BRL3 billion to BRL4 billion. So it’s going to be a one-off situation with this World Cup in the fourth quarter. Fourth quarter, we have more debit transactions than the rest of the year. Usually, net take rate is lower than the rest of the year. Although this year, the Q4 is going to be higher than last year usually, there is a decrease between Q3 and Q4. So those are the moving parts, and that’s why we are giving this range between BRL385 million and BRL415 million. So that’s why we are giving this range.
Mario Pierry: Okay. a follow-up then. The first one is on the take rate. So have we seen the full impact of all the repricing they have done? Is that already reflected on your numbers? Or did you do any price hikes during the quarter they are not yet reflected? And then the second, I understand you have less visibility on TPV, but this is a key metric that you normally provide guidance and so on. So I was just wondering like when you come up with your bottom line estimates — what kind of growth are you expecting on TPV?
Ricardo Dutra: Mario, there is going to be growth against the Q3. We are not disclosing the exactly growth for TPV in Q4, but there’s going to be growth. So when we have this, as I said, this estimate that World Cup impact, not to say the other events that I mentioned before. But yes, there will be growth in TPV. And answer to your question in repricing, we did make some reprice in Q4 as well. We did some increase in reprice in Q4 as well. So what you see is some decrease in net take rate. But when we make this math, net take rate minus financial expenses, the decrease between Q3 and Q4 is lower than the net take rate before financial expenses, because we increased the prices. So that’s we’ve seen so far. We have still, I mean, 40-days to the end of the year.
Of course, we have some visibility. But as a Brazilian that you were, you know, that World Cup and soccer in Brazil, is kind of people pay attention to that. So that’s why you have this uncertainty about TPV, but there’s going to be growth. We just are not disclosing exactly growth at this point, Mario.
Mario Pierry: Okay. Fair enough. Thank you very much.
Ricardo Dutra: Thank you.
Operator: Next question comes from Bryan Keane with Deutsche Bank. Please go ahead.
