VisaNet is now Cielo. Throughout its 14 years of existence, VisaNet has made itself a very successful story. Our history starts in 1995 when Visa International, Bradesco, Banco do Brasil, Real ABN Amro Bank—which at the time was called Banco Real—and the institution then known as Banco Nacional joined forces to design what would become VisaNet Brasil, the trade name for Companhia Brasileira de Meios de Pagamento.
Up until then, the card business in Brazil had been run by these banks in association with Visa. Each financial institution issued its own cards, and had its own data capture solutions, merchant network and marketing operations.
The goal of the new enterprise was to manage the relationship with the merchant network in Visa do Brasil’s system, to unify and develop new capture solutions and to provide financial clearing services. Under this new structure, banks would be able to focus their efforts on assigning and managing consumer credit and issuing cards to their customers.
One year later, this challenge had been met and VisaNet Brasil began operating with a network of over 100 thousand merchant locations that had been passed down from these partner banks.
In recent years, new product releases such as Visa Electron, Visa Vale Pedágio (for toll payments), and Refeição e Alimentação Visa Vale (for food and grocery payments) have consolidated the use of electronic money. Today, in addition to managing the Visa acceptance network, Cielo develops and provides monitoring, capture and processing solutions for Visa Vale, private label cards and issuing banks.
You can see our full range of products in the Products and Services menu.
Copyright © 2009 Cielo