Brazilian biggest merchant acquirer and
payment processor Cielo posted a 30% growth in profit up to BRL549m
($270 million), beating analysts’ expectations.
A 23% increase in credit and debit card
transactions drove a 28% increase in net revenue to BRL1.26
billion, compared with a year ago.
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Affiliated active merchants totaled 1.3m at
the end of 2Q 2012, up 13.3% year on year. POS rental
revenues totaled BRL35 was driven by the 17.4% growth in the number
of installed POS devices and the 14.3% rise in average rental
fees.
At the beginning of this month Cielo announced
it was set to buy US global payment solutions Merchant e-Solutions
(MeS) for $ 670m, aiming to to establish itself in the US market
and introduce new services in Brazil’s increasingly competitive
card processing market.
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By GlobalData
