UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

PagSeguro Digital Ltd.
(Name of Registrant)

Conyers Trust Company (Cayman) Limited,
Cricket Square, Hutchins Drive, P.O. Box 2681,
Grand Cayman, KY1-1111, Cayman Islands
(Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation
S-T Rule 101(b)(7):

Unaudited condensed consolidated interim financial statements

As of September 30, 2023 and for the three and nine-month periods ended September 30, 2023 and 2022

Contents

			Note						September 30, 2023						December 31, 2022
Assets
Current assets
Cash and cash equivalents			5						1,974,618						1,829,097
Financial investments			6						1,078,319						1,103,299
Accounts receivable			7						37,521,292						36,248,589
Receivables from related parties			9						4,399						—
Inventories									26,195						13,281
Tax receivable			8						379,141						410,801
Other receivables									162,896						162,011
Total current assets									41,146,860						39,767,078
Non-current assets
Accounts receivable			7						1,000,115						745,546
Receivables from related parties			9						28,024						—
Judicial deposits									49,634						44,855
Deferred income tax and social contribution			19						101,541						99,411
Other receivables									38,770						18,509
Investment									—						1,651
Property and equipment			11						2,478,114						2,493,499
Intangible assets			12						2,483,927						2,158,773
Total non-current assets									6,180,125						5,562,244
Total assets									47,326,985						45,329,322

			Note						September 30, 2023						December 31, 2022
Liabilities and equity
Current Liabilities
Payables to third parties			13						18,706,627						17,988,139
Deposits			14						8,577,445						10,100,599
Borrowings			18						192,778						—
Derivative financial instruments			26						28,091						22,289
Trade payables									439,359						449,102
Payables to related parties			9						78,359						593,906
Salaries and social security charges			15						333,847						292,778
Taxes and contributions			16						82,922						89,779
Provision for contingencies			17						70,163						46,233
Deferred revenue									125,801						126,042
Other liabilities									30,027						31,484
Total current liabilities									28,665,419						29,740,351
Non-current liabilities
Payables to third parties			13						159,438						84,759
Deposits			14						3,337,023						1,894,689
Payables to related parties			9						284,082						—
Deferred income tax and social contribution			19						1,755,429						1,564,228
Provision for contingencies			17						6,314						14,370
Deferred revenue									18,074						17,486
Other liabilities									232,999						171,313
Total non-current liabilities									5,793,359						3,746,845
Total liabilities									34,458,778						33,487,196
Equity
Share capital			20						26						26
Treasury shares			20						(609,824)						(475,354)
Capital reserve			20						6,097,391						6,102,573
Retained earnings			20						7,403,056						6,237,392
Equity valuation adjustments			20						(22,372)						(22,372)
Other comprehensive income			20						(70)						(139)
Total equity									12,868,207						11,842,126
Total liabilities and equity									47,326,985						45,329,322

PagSeguro Digital Ltd., (“PagSeguro Digital” or the “Company”), is a holding company with its principal executive offices located in Cayman Islands, subsidiary of Universo Online S.A. (“UOL”), referred to, together with its subsidiaries, as the “PagSeguro Group”, and was incorporated on July 19, 2017. A total of 99,99% of the shares of PagSeguro Internet Instituição de Pagamento S.A. (“PagSeguro Brazil”) were contributed to PagSeguro Digital on January 4, 2018 and PagSeguro Digital maintains control of PagSeguro Brazil.

PagSeguro Brazil is a privately held corporation established on December 20, 2006, and engages in providing financial technology solutions and services and corresponding related activities, focused principally on micro-merchants and small and medium-sized businesses (“SMEs”).

In June 2022, Boa Compra Tecnologia Ltda., changed its name to PagSeguro Tecnologia Ltda. (“PagSeguro Tecnologia”) as part of a marketing strategy to bring the entity closer to PagSeguro’s brand.

In January 2023, Pagseguro Biva Serviços Financeiros Ltda. incorporated Pagseguro Biva Correspondente Bancário Ltda and, in July 2023, PagSeguro Instituição de Pagamento S.A. incorporated Registra Seguro S.A.

The subsidiaries of PagSeguro Digital are PagSeguro Brazil, PagSeg Participações Ltda. (“PagSeg”), BS Holding Financeira Ltda. (“BS Holding”) and PagSeguro Holding Ltd. (“PSHC”). The PagSeguro Group subsidiaries are as follows:

•PagSeguro Brazil subsidiaries are PagSeguro Biva Securitizadora de Créditos Financeiras S.A. (“Biva Sec”), Fundo de Investimento em Direitos Creditórios – PagSeguro (“FIDC”), Wirecard Brazil Instituição de Pagamento S.A. (“MOIP), Concil Inteligência em Conciliação S.A. (“Concil”) and Netpos Serviços de Informática S.A. (“Netpos”).

•PagSeg subsidiaries are Net+Phone Telecomunicações Ltda. (“Net+Phone”), Pagseguro Tecnologia, BCPS Online Services Lda. (“BCPS”), CDS Serviços Financeiros Ltda. (“CDS”), Pagseguro Biva Serviços Financeiros Ltda. (“Biva Serviços”) and PagBank Participações Ltda. (“Pag Participações”).

•Pag Participações subsidiaries are Tilix Digital Ltda. (“TILIX”), Yamí Software & Inovação Ltda. (“YAMÍ”) and Zygo Serviços de Tecnologia S.A. (“ZYGO”).

•PSHC subsidiaries are Pagseguro Chile SPA (“Pagseguro Chile), Pagseguro Colombia S.A.S (“Pagseguro Colombia), PSGP México S.A de C.V. (“PSGP Mexico”) and Pagseguro Peru S.A.C. (“Pagseguro Peru”).

•BS Holding subsidiaries are BancoSeguro S.A. (“Bancoseguro”) and Paginvest CTVM Ltda. (“Paginvest”).

These consolidated interim financial statements include Pagseguro Brazil, PagSeg, PSHC, BS Holding and corresponding subsidiaries.

These unaudited condensed consolidated interim financial statements have been prepared in accordance with the International Financial Reporting Standards ("IFRS"), as issued by the International Accounting Standards Board ("IASB") and disclose all (and only) the applicable significant information related to the financial statements, which is consistent with the information utilized by management in the performance of its duties. The consolidated interim financial statements are presented in thousands of Brazilian reais, unless otherwise indicated, which is the functional currency of PagSeguro Group.

These unaudited condensed consolidated interim financial statements for three and nine-month periods ended September 30, 2023 were authorized for issuance by the PagSeguro Digital’s Board of Directors on November 13, 2023.

These unaudited condensed consolidated interim financial statements for the three and nine-month periods ended September 30, 2023 have been prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting” as issued by the IASB and disclose all (and only) the applicable significant information related to the financial statements.

These unaudited condensed consolidated interim financial statements do not include all the notes of the type normally included in an annual consolidated financial statement. Accordingly, this report is to be read in conjunction with the annual consolidated financial statements for the year ended December 31, 2022 (the “Annual Financial Statements”).

The accounting policies and critical accounting estimates and judgments adopted are consistent with those of the previous financial year and corresponding interim reporting period.

The accounting policies adopted in the preparation of the consolidated interim financial statements for the period ended September 30, 2023 are consistent with those adopted for the year ended December 31, 2022, except for the changes required by the pronouncements, interpretations and standards which became effective on January 1, 2023, as described below.

–IFRS 17 was issued in May 2017 as replacement for IFRS 4 Insurance Contracts. It requires a current measurement model where estimates are remeasured in each reporting period, Contracts are measured using the building blocks of discounted probability-weighted cash flows, an explicit risk adjustment and a contractual service margin (CSM) representing the unearned profit of the contract which is recognized as revenue over the coverage period.

2.2.    New accounting standards adopted in 2023 (Continued)

The standard allows a choice between recognizing changes in discount rates either in the statement of profit or loss or directly in other comprehensive income. The choice is likely to reflect how insurers account for their financial assets under IFRS 9. An optional, simplified premium allocation approach is permitted for the liability for the remaining coverage for short duration contracts, which are often written by non-life insurers.

There is a modification of the general measurement model called the ‘variable fee approach’ for certain contracts written by life insurers where policyholders share in the returns from underlying items. When applying the variable fee approach, the entity’s share of the fair value changes of the underlying items is included in the CSM. The results of insurers using this model are therefore likely to be less volatile than under the general model.

Targeted amendments made in July 2020 aimed to ease the implementation of the standard by reducing implementation costs and making it easier for entities to explain the results from applying IFRS 17 to investors and others. The amendments also deferred the application date of IFRS 17 to 1 January 2023. The Group did not identify material impacts under the new IFRS.

–Amendment to IAS 1 "Presentation of Financial Statements": issued in May 2020, with the objective of clarifying that liabilities are classified as current or non-current, depending on the rights that exist at the end of the period. The classification is not affected by the entity’s expectations or events after the reporting date (eg, receipt of a waiver or breach of covenant). The amendments also clarify what "settlement" of a liability refers to under IAS 1. The amendments to IAS 1 are effective as of January 1, 2023. The Group did not identify material changes in the financial results.

–Amendment to IAS 1 and IFRS Practice Statement 2 - Disclosure of Accounting Policies: in February 2021 the IASB issued a new amendment to IAS 1 on disclosure of "material" accounting policies rather than "significant" accounting policies. The amendments define what "“material accounting policy information" is and explain how to identify it. It also clarifies that immaterial accounting policy information does not need to be disclosed, but if so, it should not obscure the relevant accounting information. To support this change, the IASB also amended the "IFRS Practice Statement 2 Making Materiality Judgments" to provide guidance on how to apply the concept of materiality to accounting policy disclosures. This amendment is effective as of January 1, 2023. The Group did not identify material changes in the financial results.

–Amendment to IAS 8 - Accounting Policies, Change in Estimate and Error Rectification: the amendment issued in February 2021 clarifies how entities must distinguish changes in accounting policies from changes in accounting estimates, as changes in accounting estimates are applied prospectively to future transactions and other future events, but changes in accounting policies are generally applied retrospectively to past transactions and other past events, as well as to the current period. This amendment is effective as of January 1, 2023. The Group did not identify material changes in the financial results.

–Amendment to IAS 12 - Income Taxes: the amendment issued in May 2021 requires entities to recognize deferred tax on transactions that, on initial recognition, give rise to equal amounts of taxable and deductible temporary differences.

2.2.    New accounting standards adopted in 2023 (Continued)

This typically applies to lease transactions (right-of-use assets and lease liabilities) and decommissioning and restoration obligations, as an example, and will require the recognition of additional deferred tax assets and liabilities. This amendment is effective as of January 1, 2023. The Group did not identify material changes in the financial results.

3. Consolidation of subsidiaries (Continued)

The operational context of the subsidiaries is to be read in conjunction with the annual financial statements for the year ended December 31, 2022.

Operating segments are determined based on the information reported and reviewed by the chief operating decision maker (“CODM”). The Board of Directors has been identified as the CODM and is responsible for allocating resources and assessing the performance of the business and to make PagSeguro Group’s strategic decisions.

Considering that all decisions are based on consolidated reports, and that all decisions related to strategic and financial planning, purchases, investments, and the allocation of funds are made on a consolidated basis, the PagSeguro Group and its subsidiaries operate in a single segment, as financial service agents.

Main companies of PagSeguro Group are domiciled in Brazil and have revenue arising from local customers and customers located abroad. The main revenue is related to sales from the domestic market. The revenue from international market represents 0.4% and 0.4% for the three and nine-month periods ended September 30, 2023, respectively (0.7% and 1.0% for three and nine-month periods ended September 30, 2022, respectively).

Cash and cash equivalents are held for the purpose of meeting short-term cash needs and include cash on hand, deposits with banks and other short-term highly liquid investments with original maturities of three-month or less and with immaterial risk of change in value.

Short-term bank deposits are mainly represented by amounts to cover instant payments (PIX), cash on ATMs and clients’ payments.

Short-term investments consist mainly of investments in Brazilian Treasury Bonds (“LFTs”) with an average return of 100% of the Basic Interest Rate (SELIC, 12.75% per year on September 30, 2023 and 13.75% per year on December 31, 2022).

Consists of investments in LFTs, in the amount of R$1,078,319 as of September 30, 2023 (R$1,103,299 as of December 31, 2022) with an average return of 100% of the Basic Interest Rate (SELIC, 12.75% per year as of September 30, 2023 and 13.75% per year on December 31, 2022), invested to comply with certain requirements for authorized payment institutions as set forth by the Brazilian Central Bank regulation. This financial asset was classified at fair value through other comprehensive income. Unrealized accumulated loss on LFTs in nine-month period ended September 30, 2023 totaled R$316 (loss of R$176 in the nine-month period ended September 30, 2023).

7.  Accounts receivable

						September 30, 2023																																				December 31, 2022
						Visa						Master						Hipercard						Elo						Amex						Total						Visa						Master						Hipercard						Elo						Amex						Total
Legal obligors
Itaú						2,669,573						6,183,947						537,138						—						—						9,390,657						1,920,151						5,268,454						649,586						—						—						7,838,191
Nubank						—						4,902,731						—						—						—						4,902,731						—						4,050,376						—						—						—						4,050,376
Bradesco						1,991,350						119,651						—						1,087,734						403,792						3,602,527						2,924,890						242,708						—						1,228,553						440,535						4,836,685
Santander						717,187						2,048,484						—						—						16,402						2,782,074						829,714						2,564,868						—						—						11,021						3,405,603
Banco do Brasil						1,724,283						291,802						—						596,853						—						2,612,938						2,008,045						359,572						—						553,321						—						2,920,938
Banco Carrefour						147,216						1,094,248						—						—						—						1,241,464						142,392						973,915						—						—						—						1,116,307
Porto Seguro						760,313						268,222						—						—						—						1,028,535						708,008						216,926						—						—						—						924,934
Sicredi						497,798						498,106						—						—						—						995,904						404,825						372,297						—						—						—						777,122
CEF						332,685						127,310						—						512,980						—						972,974						369,282						180,490						—						453,043						—						1,002,815
Banco C6						—						953,651						—						—						—						953,651						—						825,958						—						—						—						825,958
Banco Cooperativo Sicoob						—						902,637						—						—						—						902,637						—						644,039						—						—						—						644,039
Banco Inter						—						757,498						—						—						—						757,498						—						550,070						—						—						—						550,070
Banco Bradescard						534,303						130,925						—						16,109						—						681,338						470,100						113,100						—						15,613						—						598,813
Banco XP						523,343						—						—						—						—						523,343						406,986						—						—						—						—						406,986
Will Financeira						—						517,139						—						—						—						517,139						—						349,453						—						—						—						349,453
Midway						235,988						134,288						—						—						—						370,276						268,221						124,417						—						—						—						392,638
Realize						164,703						176,085						—						—						—						340,788						166,754						185,371						—						—						—						352,125
Banco Votorantim						—						303,855						—						—						—						303,855						—						358,072						—						—						—						358,072
Pernambucanas						—						—						—						267,035						—						267,035						—						1,017						—						186,556						—						187,573
Banco Pan						48,585						174,155						—						2,201						—						224,942						68,683						246,112						—						10						—						314,805
Digio						203,025						—						—						1,885						—						204,910						180,936						1						—						14,454						—						195,391
Credz						196,462						—						—						—						—						196,462						176,030						—						—						—						—						176,030
Banco Original						—						189,563						—						—						—						189,563						—						246,976						—						—						—						246,976
Cred-system						—						189,429						—						—						—						189,429						—						153,681						—						—						—						153,681
Mercado Pago						183,935						—						—						—						—						183,935						143,073						—						—						—						—						143,073
Bancoob						187,945						—						—						—						—						187,945						112,743						208						—						—						—						112,951
Banrisul						28,826						137,698						—						—						—						166,524						36,400						133,065						—						—						—						169,465
Other						1,117,445						679,598						—						181,040						1,301						1,979,384						988,354						795,339						—						170,155						2,131						1,955,978
Total card issuers (i)						12,264,964						20,781,022						537,138						2,665,836						421,495						36,670,455						12,325,585						18,956,483						649,586						2,621,704						453,686						35,007,045
Current card issuers																																				36,455,948																																				34,884,835
Non-Current card issuers																																				214,507																																				122,215
Getnet						—						—						—						—						—						661						—						—						—						—						—						52,597
Other						—						—						—						—						—						9,165						—						—						—						—						—						10,963
Total acquirers (ii)						—						—						—						—						—						9,826						—						—						—						—						—						63,560
Loans, net						—						—						—						—						—						84,453						—						—						—						—						—						221,449
Credit card receivables, net						—						—						—						—						—						579,241						—						—						—						—						—						661,226
Payroll loans and other, net						—						—						—						—						—						1,147,731						—						—						—						—						—						852,425
Total credit receivables (iii)						—						—						—						—						—						1,811,425						—						—						—						—						—						1,735,100
Current																																				1,025,817																																				1,111,769
Non - Current																																				785,608																																				623,331
Other accounts receivables (iv)						—						—						—						—						—						29,701						—						—						—						—						—						188,425
Total accounts receivable						12,264,964						20,781,022						537,138						2,665,836						421,495						38,521,407						12,325,585						18,956,483						649,586						2,621,704						453,686						36,994,135
Current																																				37,521,292																																				36,248,589
Non - Current																																				1,000,115																																				745,546

(i)    Card issuers: receivables derived from transactions where PagSeguro Brazil acts as the financial intermediary in operations with the issuing banks, related to the intermediation agreements between PagSeguro Brazil and Visa, Mastercard, Hipercard, Amex or Elo. However, PagSeguro Brazil’s contractual accounts receivable are with the financial institutions, which are the legal obligors on the accounts receivable payment. Additionally, amounts due within 27 days of the original transaction, including those that fall due with the first installment of installment receivables, are guaranteed by Visa, Mastercard, Hipercard, Amex or Elo, as applicable, if the legal obligors do not make the payment.

(ii)    Acquirers: refers to card processing transactions to be received from the acquirers, which are third parties acting as financial intermediaries between the issuing bank and PagSeguro Brazil.

(iii)    Total credit receivables are presented net of the ECL (“expected credit losses”), are measured according to the IFRS 9, using: Exposure at Default (EAD) related to the exposed credit risk at default; Probability of Default (PD) related to the probability of the counterparty not meeting its contractual payment obligations; and Loss Given Default (LGD) related to the percentage of the exposure that is not expected to be recovered in the event of default, In addition to the methodology for calculating the allowance for impairment (EAD x PD x LGD). Pagseguro takes into consideration the forward-looking information and assumptions as the historical loss experienced at individual transactions level, credit quality and guarantees, economic factors and estimated future cash flows, which could impact the calculation model for provisioning expected credit losses.

(iv)    Refers to other dispersed receivables from legal obligors.

The maturity analysis of accounts receivables is as follows:

The maturity analysis of credit receivables as of September 30, 2023 and December 31, 2022 are as follows:

For the credit receivables the weighting of objective factors plus the analysis of the coverage percentage of accessory guarantees leads to the customer rating this allows the grouping of customers with similar credit risks and classification into one of the following stages as suggested by IFRS9:

(i)    This line of credit is mainly related to payroll loans offered to retirees, public sector employees and Brazil's Severance Indemnity Fund early prepayment, therefore are secured operation and less prone to expected credit losses.

The movement in the allowance for expected credit losses of credit receivables is as follows:

(i)    Based on the PagSeguro credit risk classification model, which assesses the risk of insolvency and default of counterparties related to credit receivables, in the nine-month period ended in September 2023, the Company carried out a partial write-off of credit receivables, for cases in which the Company does not expect to receive these amounts. The credit card receivables were written-off in the amount of R$283,775 and payroll loans were written-off in the amount R$125,942 against the related provision for ECL recognized in previous periods.

(i)Refers mainly to withholding taxes from income tax and social contribution.

(ii)Refers to Social Integration Program (PIS) and Social Contribution on Revenues (COFINS) recoverable on transaction activities and other services.

i) Balances and transactions with related parties

(a)     Sales of services refer mainly to the purchase of advertising services from UOL.

(b)     Shared services costs mainly related to payroll costs that are incurred by the parent company UOL and are charged to PagSeguro Group.

(c)     Certificate of deposits (CD) acquired by related parties from BancoSeguro with interest rate between 104% to 110% (107% to 110% in December, 2022) per year of CDI. The maturity analysis is as follows:

(d)     This payable refers mainly to colocation, development of software and cloud services.

(e)    This receivable refers to borrowing made from Biva Sec with interest rate of 100% of CDI plus 2.5% per year.

9. Related-party balances and transactions (continued)

ii) Revenue and expense from transactions with related parties

(a)Shared services costs mainly related to payroll costs sharing that are incurred by the parent company UOL and are charged to PagSeguro. Such costs are included in administrative expenses.

(b)Sale of services expenses are related to advertising services from UOL and revenue is related to intermediation fees.

(c)Expenses are related to Certificate of Deposits (CD) from BancoSeguro. UOL Edtech Tecnologia was incorporated in 2023 by Passei Direto S.A.

(d)Expenses related to colocation and cloud services.

(e)Revenue refers to borrowing made from Biva Sec with interest rate of 100% of CDI plus 2.5% per year.

iii) Key management compensation

Key management compensation includes short and long-term benefits of PagSeguro Brazil's executive officers. The short and long-term compensation related to the executive officers for the three and nine-month periods ended September 30, 2023 amounted to R$10,258 and R$29,660 (R$9,225 and R$20,300 for the three and nine-month periods ended September 30, 2022).

On July 18, 2023, PagSeguro Brazil acquired 90% of the share capital, in addition to 10% already acquired previously and obtained 100% of the share capital of Netpos. Total consideration paid in cash amount to R$32 million in just one installment and the total net assets acquired at fair value amounted to R$24,477. Netpos main activity is the focused-on software solutions to improve the management of business in the information technology industry.

The preliminary purchase price allocation (“PPA”) was completed on September 30, 2023, which included the recognition of a customer portfolio with a fair value of R$1,367, non-compete agreement of R$1,154 and software of R$22,208, resulting in the recognition of goodwill of R$7,523. The PPA did not consider the recognition of deferred income tax on allocations above, as the Group's intention is to incorporate NETPOS.

The PPA was elaborated considering projections for the period of three years based on management’s budgets for Netpos and applying an inflation rate plus the estimated growth of GDP of services (fluctuating from 3.5% to 5% per year) to project future cash flows, with a discount based on the weighted average cost of capital (fluctuating from 16% to 16.5% per year).

This acquisition is in accordance with PagSeguro Group’s business strategies, ramping up investments on new technologies, products, and services for the Group’s digital ecosystem. The fair value of assets and liabilities acquired in 2023 was as follows:

a) Property and equipment are composed as follows:

11. Property and equipment (Continued)

b) The changes in cost and accumulated depreciation were as follows:

(i)Net book value of POS devices is R$2,161,609 (R$2,212,692 as of December 31, 2022), which are depreciated over 5 years, The depreciation of POS in the nine-month period ended September 30, 2023, amounted to R$503,280 (R$472,790 in the nine-month period ended September 30, 2022). On September 30, 2023. PagSeguro have contractual obligations to acquire POS devices in the amount of R$477,167 (R$860,321 as of December 31, 2022).

(ii)As of September 30, 2023, PagSeguro had a lease liability presented in other current liabilities in the amount of R$15,227 (R$18,704 as of December 31, 2022) and as non-current liability in the amount of R$84,116 (R$39,867 as of December 31, 2022), this increase is mainly related to the extension of leasing agreement for more 4 years. For the nine-month ended September 30, 2023, the Company incurred in financial expenses related to these leases of R$12,606 (R$13,977 in the nine-month period ended September 30, 2022).

(iii)The net book value of disposals is R$216,218 of which R$438,894 are cost and R$222,675 are accumulated depreciation, During the nine‑month period ended September 30,2023, the Company revised its business strategy towards a specific group of merchants and observed no future economic benefit is expected from them, resulting in the provision of POS devices allocated to these merchants in the net book value of R$190,071 (R$386,531 are cost and R$196,460 are accumulated depreciation), and R$134,306 (R$262,364 consisting of cost and R$128,058 consisting of accumulated depreciation) during the nine-month period ended September 30,2022.