Cielo SA (CIEL3.SA)
R$ 0.54 (+2.29%)
|Market Cap(Mil.):||R$ 59,036.39|
SAO PAULO, Aug 2 Competition from smaller payment processing firms in Brazil should ease soon, mitigating the impact of a declining base of point-of-sale machines amid a recession that has triggered massive store closures, executives at Cielo SA said on Wednesday.
SAO PAULO, Aug 1 Cielo SA, Brazil's largest payment processor, cut targets for expense and capital spending growth this year, citing slowing inflation and declining client rentals of point-of-sale machines stemming from a harsh recession.
SAO PAULO, Aug 1 Cielo SA beat second-quarter profit estimates on Tuesday, reflecting declining debt-servicing costs at Brazil's largest payment processing firm and better-than-expected revenue at a credit card venture and a U.S.-based payment solutions unit.