Cielo Moves Forward in e-commerce with Acquisition of Braspag
Poster: SySAdmin
Posted on May 23, 2011 at 7:56:01 PM
Cielo Moves Forward in e-commerce with Acquisition of Braspag
BARUERI, Brazil, May 23, 2011 /PRNewswire/ -- CIELO S.A.(BM&FBOVESPA: CIEL3; OTC: CIOXY),the leading merchant acquirer and payment processor in Brazil, announces to the market the acquisition, on this date, of 100% of the quotas representing the capital stock of Braspag - Tecnologia em Pagamento Ltda. ("Braspag") through a subsidiary.
Founded in 2005, Braspag is known for innovation and the development of online payment solutions and is the leading company in payment processing for e-commerce in Brazil, with a market share of approximately 65% in its segment. Operating as a gateway, Braspag's platform integrates online stores, financial institution sand acquirers, and is responsible for capturing, routing and managing payment transactions with cards, collection slip sand online debit. In addition, Braspag consolidates the accounts receivable process of Brazil's leading online stores, offering them cost comprehensive range of services in the segment of online transaction processing.
This acquisition strengthens Cielo's leadership in the online payment segment in Brazil through a significant presence in yet another link of the e-commerce value chain. This presence guarantees a unique position for stimulating and capturing the strong growth in this market.
Cielo will also expand its product portfolio with a more comprehensive offering that, in addition to including other payment methods such as collection slip sand online debit, provides value-added services like financial reconciliation and anti-fraud intelligence tools, further strengthening the relationship with its clients.
Both companies will remain committed to meeting the needs of their clients, maintaining the current relationship models. Braspag will continue to provide services to clients that choose to use other acquirers, while, for its part, Cielo will continue to work in partnership with other gateways in the market to serve clients who choose other solutions.
For further information please contact our investor relations department:
Tel: + 55 11 2596 1701
ri@cielo.com.br
Investor Relations website: http://www.cielo.com.br/ir
About Cielo
Cielo S.A. is the leading merchant acquirer and payment processor in Brazil, engaged in merchant affiliations, management of the card acceptance network, as well as the capture, transmission, processing and settlement of credit and debit card transactions. Its cutting-edge technology network enables it to operate with availability rate of 99.995%. The company also has the most modern base of POS terminals in Brazil, with average age of 1.7 year, and a chain of 1.1 million active affiliated merchants, covering 98% of Brazil.
SOURCE Cielo S.A.
Cielo S.A.
Web Site: http://www.cielo.com.br/ir
BARUERI, Brazil, May 23, 2011 /PRNewswire/ -- CIELO S.A.(BM&FBOVESPA: CIEL3; OTC: CIOXY),the leading merchant acquirer and payment processor in Brazil, announces to the market the acquisition, on this date, of 100% of the quotas representing the capital stock of Braspag - Tecnologia em Pagamento Ltda. ("Braspag") through a subsidiary.
Founded in 2005, Braspag is known for innovation and the development of online payment solutions and is the leading company in payment processing for e-commerce in Brazil, with a market share of approximately 65% in its segment. Operating as a gateway, Braspag's platform integrates online stores, financial institution sand acquirers, and is responsible for capturing, routing and managing payment transactions with cards, collection slip sand online debit. In addition, Braspag consolidates the accounts receivable process of Brazil's leading online stores, offering them cost comprehensive range of services in the segment of online transaction processing.
This acquisition strengthens Cielo's leadership in the online payment segment in Brazil through a significant presence in yet another link of the e-commerce value chain. This presence guarantees a unique position for stimulating and capturing the strong growth in this market.
Cielo will also expand its product portfolio with a more comprehensive offering that, in addition to including other payment methods such as collection slip sand online debit, provides value-added services like financial reconciliation and anti-fraud intelligence tools, further strengthening the relationship with its clients.
Both companies will remain committed to meeting the needs of their clients, maintaining the current relationship models. Braspag will continue to provide services to clients that choose to use other acquirers, while, for its part, Cielo will continue to work in partnership with other gateways in the market to serve clients who choose other solutions.
For further information please contact our investor relations department:
Tel: + 55 11 2596 1701
ri@cielo.com.br
Investor Relations website: http://www.cielo.com.br/ir
About Cielo
Cielo S.A. is the leading merchant acquirer and payment processor in Brazil, engaged in merchant affiliations, management of the card acceptance network, as well as the capture, transmission, processing and settlement of credit and debit card transactions. Its cutting-edge technology network enables it to operate with availability rate of 99.995%. The company also has the most modern base of POS terminals in Brazil, with average age of 1.7 year, and a chain of 1.1 million active affiliated merchants, covering 98% of Brazil.
SOURCE Cielo S.A.
Cielo S.A.
Web Site: http://www.cielo.com.br/ir