Cielo SA - CIOXY stock
OTC Symbol: CIOXY | OTC Tier: Pink Limited
Description[edit]
Cielo S.A., operating through its subsidiaries, provides payment services in Brazil, including credit and debit card services, merchant signup, point of sale terminal rental and maintenance, electronic and manual transaction processing, data transmission services, software development and licensing, electronic transactions processing, IT services for accounts management, data processing services, and support services to medical companies; the company was previously known as Companhia Brasileira de Meios de Pagamento and changed its name to Cielo S.A. in December 2009, and it was founded in 1995 with headquarters in Barueri, Brazil.[1]
History[edit]
Cielo S.A., one of the largest payment processing companies in Brazil, has its origins in Companhia Brasileira de Meios de Pagamento, which was founded in 1995. The company was established as a joint venture between Banco Bradesco, one of the largest private banks in Brazil, and Banco do Brasil, the country's largest state-owned bank. The main objective behind the creation of Companhia Brasileira de Meios de Pagamento was to provide a reliable and efficient electronic payment processing solution for businesses and consumers in Brazil. The company aimed to facilitate credit and debit card transactions, as well as other payment methods, to meet the growing demands of the Brazilian market. As Companhia Brasileira de Meios de Pagamento expanded its services and gained prominence in the payment processing industry, it became widely recognized as Cielo. The name change to Cielo S.A. occurred in December 2009, reflecting the company's evolution and growth.[2]
Throughout the years, Cielo continued to innovate and expand its range of payment solutions, serving merchants, service providers, and consumers across Brazil. The company's services encompass credit and debit card processing, point-of-sale terminal rental and maintenance, electronic transaction processing, and various other payment-related services. With its headquarters located in Barueri, Brazil, Cielo S.A. has played a crucial role in shaping the payment landscape in the country and has become an essential player in the Brazilian financial services sector.[3]
- ↑ Yahoo Finance. CIOXY Stock Profile. Retrieved on 9/14/2023.
- ↑ Wikipedia. Cielo S.A. Retrieved on 9/15/2023.
- ↑ Forbes. Cielo Profile. Retrieved on 9/15/2023.
