Cielo partners with Credicard to add Diners Club, Discover card brands

- Tuesday, August 2, 2011

Cielo partners with Credicard to add Diners Club, Discover card brands

Brazil's leading card acquirer, Cielo, has signed a contract with Credicard, Citigroup's (NYSE: C) Brazilian card issuer, through which Diners Club International and US card brand Discover will be accepted at Cielo's network.

Cielo's network began capturing Diners transactions in the second half of last month, and all merchants are expected to be prepared to accept Diners cards within 40 days, a press release from the company reads.

There are some 350,000 Diners Club cardholders in Brazil, and of all Credicard brands, it grew 40% in 2010.

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Discover cards are slated for acceptance at Cielo's network in the second half of August. There are more than 50mn Discover cardholders worldwide.

With this new agreement, Cielo has access to the four largest card brands - Visa (NYSE: V), MasterCard (NYSE: MA), American Express (NYSE: AXP) and Diners Club.