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Created in 1997 through a joint-venture by Visa and the banks Bradesco, Santander, Real and Banco do Brasil, Cielo S.A. as become the largest Brazilian credit and debit card operator. Its revenue and market value both make it the biggest payment system company in Latin American. Formerly known as Companhia Brasileira de Meios de Pagamento, the company changed its name in December 2009.
In 2012, Cielo acquired the American payment provider Merchant e-Solutions for 670 million USD. The acquisition was aimed at diversifying Cielo’s services base, as Brazilian e-commerce grew strongly.
Cielo’s headquarter is located in Barueri, Brazil. From small retailers to larger businesses, the company is active in over 20 economic sectors in Brazil and Latin America. It offers online as well as point-of-sale solutions.
Cielo S.A. operates in the acquiring and payment processing sector. It provides services related to credit and debit cards, and other payment methods. The company also offers maintenance and contact services with merchants and service providers for acceptance of credit and debit cards. In addition, it engages in the provision of data transmission services to charge fixed or mobile phone, prepaid transportation, and mobile payment services; provision of software development services; and licensing of computer programs. Furthermore, the company provides automated transaction processing; IT services for the collection and management of accounts payable and receivable using the Internet; services in processing means of payments that involve private and prepaid credit, debit, and multiple cards; and mobile payment and technology consulting services. Additionally, it offers services related to electronic payments with credit or debit cards.