Payment Processor Cielo Launches Crypto Support for Its 1.4 Million Points of Sale Devices in Brazil

Michael LaVere
  • Brazil's largest payment processing provider Cielo has announced support for bitcoin and crypto payments. 
  • Cielo operates 1.4 million point-of-sale devices across the country.

Brazil’s largest payment processing provider Cielo has announced support for bitcoin and crypto purchases through its 1.4 million point-of-sale devices. 

Cielo Accepting Bitcoin Payments

According to a report published on Aug. 30 by Criptonizando, the payment processing giant will be integrating bitcoin support into its existing devices, which total more than 1.4 million across the country. The point-of-sale equipment will be able to generate a QR code for bitcoin payments, which requires a smartphone for scanning. Cielo has distributions in 5,500 municipalities in Brazil and has over 1.4 million points of sale, providing widespread access to customers who would prefer to pay in bitcoin over fiat. 

Paulo Caffarelli, president of Cielo, claimed that its banking partners are backing the integration of crypto payments. In addition, the company has plans to offer a bitcoin payment service that utilizes mobile payments, without the need for point-of-sale devices. 

Crypto has become an increasingly popular alternative for use as payment in South America. DASH appears to be the top crypto-asset for use in Venezuela, despite battling some controversy over the exact numbers. 

In addition, survey results published earlier in the month by Paxful showed that more than 86% of Colombians are familiar with cryptocurrency and that a similar number would be willing to invest in the asset class.