FOR merchants looking to enter the Latin American retail market, a strategic partnership with Cielo could deliver new business opportunities across the continent. Cielo was founded in 1995 as a joint-venture between Visa International and three leading Brazilian banks to provide a common framework for payment-processing in the region. The company claims the title — by revenue and market value — of the largest Brazilian credit and debit card processor and the biggest payment system company in Latin America. Cielo processes $6.8bn in transactions each year through its network of point-of-sale, electronic fund transfer, and e-commerce device transactions. The company invests in advanced analytics to provide consumers — some 1.7m active users — with real-time promotions and relevant offers. The BV judging panel presents Cielo with the 2018 Best Payment Processing Solutions (Latin America) award.
