This content is from:Home
The 2015 All-Latin America Best Analyst Day: Financials/Nonbanks, No. 1: Cielo
Cielo
Cielo, headquartered in São Paulo, is Brazil’s largest credit and debit card operator. The company was founded in 1995 as VisaNet when Visa International, Bradesco, Banco do Brasil, Banco ABN Amro Real and the former Banco Nacional created Brasileira de Meios de Pagamento. It served as a common technological system used by banks issuing Visa cards to process transactions. Since the 1990s, Cielo has introduced innovative tools, including the Visa Electron debit card, Visa Vale Pedágio toll vouchers and Visa Vale benefit cards, which replace paper meal tickets. VisaNet was renamed Cielo in 2010.