Brazilian merchant acquirer and payment processor Cielo has agreed to purchase US internet-based payment services provider Merchant e-Solutions (MeS) for the amount of USD 670 million, in order to expand across the US.
Merchant e-Solutions offers internet-based payment processing solutions for merchants and banks. The company currently processes more than USD14 billion in payments for more than 65,000 merchants while supporting 150 global currencies and all major credit, debit and alternative payment solutions. Merchant e-Solutions specializes in services for e-commerce and Card-Not-Present (CNP) merchants and provides a suite of payment solutions that are Payment Card Industry (PCI) compliant.
Cielo is engaged in merchant affiliations, management of the card acceptance network as well as the capture, transmission, processing and settlement of credit and debit card transactions. In May 2011, the company has acquired Braspag, a Brazilian payment processing company for e-commerce and call centres to expand its online payments processing services in Brazil.
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