Posts Tagged “Cielo”

Cielo acquires online payment solutions developer Braspag

Cielo, a Brazil-based payment processor, has acquired 100% of the capital stock of online payment solutions developer Braspag - Tecnologia em Pagamento, via one of its subsidiary. Founded in 2005, Braspag is known for innovation and the development of online payment solutions, with a market share of approximately 65% in its segment. Operating as a gateway, Braspag's platform integrates online stores, financial institutions and acquirers, and is responsible for capturing, routing and managing payment transactions with cards, collection slips and online debit. This acquisition is expected to strengthen Cielo's position in the online payment segment in Brazil through a significant presence in yet another link of the e-commerce value chain.


Brazil processor Cielo to buy Merchant e-Solutions

BRAZIL | Cielo SA, a Brazil-based payments processor, plans to buy Merchant e-Solutions, a U.S.-based processor whose services include e-commerce and mobile payments. Cielo will pay $670 million for the U.S. firm and use its technology to boost its services in Brazil.


Cielo

Created in 1995 as a joint-venture between Visa International and banks Bradesco, Banco do Brasil, Santander and Banco Nacional, along with Visa International, Visanet aimed to unify the commercial relations between all the commercial establishments affiliated to Visa in Brazil. Due to the end of the exclusivity for Visa products in 2009, Visanet had its name changed to Cielo.                  


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