Cielo will lose Exclusivity with Elo Transactions

The Administrative Council for economic Defense (Cade) signed this Wednesday (June 28) deals with the Cielo to put an end to the uniqueness of the company upon receipt of card transactions from the flag link, the banks Bradesco, Banco do Brazil and Caixa Economica Federal. With the signing of a commitment to cessation (TCC), Elo cards may be accepted by acquirers competitors from 31 July. In another deal, Cade made the Cielo give access to their machines to capture all other accreditation bodies in the country, since these companies provide the same treatment to the company. Similar agreement had already been signed in April with the main rival of Cielo, the network of Itaú Unibanco. "Cade expects the changes allow more competition for market participants and lower costs to retailers and consumers," said the Defense organ of the competition in a statement to the press.