09/09/2024 – 16:53
The Elo Voucher, a product from the Elo card brand focused on benefits cards, is now accepted by Cielo’s card machines. Until now, the payment scheme included the Rede, PagBank and Safrapay accreditors, according to the company.
The Elo Voucher is Elo’s product for operating in so-called open benefit arrangements. The difference between this model and the traditional one, which has been in operation in the country since the 1970s, is that the network of establishments where the card is accepted is defined by the machines, not by the issuers. It is the same model as credit, debit and prepaid cards.
In practice, this increases the number of establishments where the beneficiary can use the card. Elo vouchers include food, meal, cultural vouchers and other flexible options. The company has contracts with issuers that together account for more than 80% of the market.
“The Elo Voucher was created as a transaction separate from the credit and debit models, being a new product, ‘Voucher in open arrangement’, which becomes a sustainable model for the entire chain and 100% transparent, with visibility for the commercial establishment end to end, from the moment of adhesion, to acceptance and receipt”, says in a note the director of New Businesses at Elo, Vilma Lorey.
Establishments linked to Cielo that operate in the food, meal and culture segments can request authorization to accept Elo-branded vouchers through the company’s card machine channels.
“This solution with Elo is a significant step forward for Cielo in its ongoing commitment to providing transparent and efficient payment solutions to its customers,” said Carlos Alves, Cielo’s Vice President of Technology and Business. “The company continues to innovate and enhance its service offerings to meet the ever-changing needs of its customers.”
Cielo, which stopped having its shares traded on the stock exchange in August, is a partnership between Bradesco and Banco do Brasil. The two banks are also in the shareholder base of Elo, in which they are also partners with Caixa Econômica Federal.
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