Brazil's Cielo acquires Braspag

Source: Cielo

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.

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