Cielo Brazil

Cielo is the largest Brazilian credit and debit card operator and is the biggest payment system company in Latin America by revenue and market value processing 6.8 Billion transactions each year. Cielo was founded in 1995 as a joint-venture between Visa International and the banks Banco Bradesco SA, Banco do Brasil SA, and Banco Santander Brasil SA to create a common infrastructure to be used by all banks issuing Visa cards. In 2010, Cielo had the third largest IPO in the history of Bovespa, raising the equivalent of US$ 4.428 billion.