Cielo S.A.
| Company type | Sociedade Anônima |
|---|---|
| B3: CIEL3 Ibovespa Component | |
| Industry | Financial services |
| Founded | 1997 |
| Headquarters | Barueri, São Paulo, |
Key people | Estanislau Bassols (CEO) |
| Products | Payment systems |
| Revenue | US$ 3.0 billion (2018) |
| US$ 923.0 million (2018) | |
Number of employees | 1,174 |
| Website | www.cielo.com.br |
Cielo is the largest Brazilian credit and debit card operator. It operates as a multi-brand acquirer, offering solutions for managing and processing transactions via credit, debit and Pix. Cielo is the biggest payment system company in Latin America by revenue and market value.
History
The company was originally established as Companhia Brasileira de Meios de Pagamento in 1995 as a joint-venture between Visa International, Bradesco, Banco do Brasil, Banco Santander Brasil), and the now defunct Banco Nacional. Its purpose was to create a common infrastructure to be used by all banks issuing Visa cards, instead of each bank having a separate technological solution to process credit card transactions.[1]
On July 1, 2010, VisaNet was renamed Cielo. Following updated regulation by the Brazilian government, it was no longer the only processor of Visa cards in Brasil and began processing Mastercard, Diners Club and other cards.[2]
IPO
VisaNet debuted on the São Paulo Stock Exchange on June 29, 2010 listed in Novo Mercado. It was the third largest IPO in the history of Bovespa, only behind Banco Santander Brasil and BB Seguridade. The company raised the equivalent of R$ 8.397 billion or US$ 4.428 billion through the sale of 559.8 million ordinary shares, 41% of the shares of the company.[3]
References
- ^ ""History" on Cielo's website (in Portuguese)". Archived from the original on 2013-08-06. Retrieved 2010-10-04.
- ^ "Card operators to unify terminals as of today" in Folha de S.Paulo July 1, 2010
- ^ "Brazilian shares ease; VisaNet set for debut". Retrieved 2019-12-02.