Cielo launches Android-based mobile payment solution app

Monday, June 13, 2011

Leading Brazilian card acquirer Cielo, a JV between federally controlled Banco do Brasil and third largest bank Bradesco (NYSE: BBD), launched the country's first application to transform Android-based smartphones and tablets into Cielo POS terminals, a press release reads.

The application will allow transactions for Visa (NYSE: V), MasterCard (NYSE: MA), American Express (NYSE: AXP), Elo and Aura cardholders.

Cielo will be the only card acquirer in Brazil to offer the technology for Android smartphones, and the announcement follows the November 2010 launch of the iOS mobile operating system. The application was developed by M4U, a Cielo subsidiary specializing in technological platforms for mobile payment.

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"With the launch of the Android app, we're strengthening our operations in this new market.... We hope to democratize this method of payment and operate in a segment where plastic money isn't common," says Eduardo Chedid, Cielo's executive VP for business solutions.