Products and Services Policy

Review History

Version: Date of Review: History: 
1 06/03/2013 Document creation
2 04/29/2014 Item 6 included and item 8 updated
3 06/08/2015 Inclusion of items: Scope (II), Complementary Documentation (III), Concepts and Acronyms (IV), Responsibilities (V) and Consequence Management (VII). Adequacy of Purpose (I) regarding the sustainability concept. Update of Guidelines (VI) with the inclusion of items 2.4, 10, 11 and 12 and adjustments of items 1, 6, 7 and 9.
4 08/01/2017 Update of items I. Objective and subitem 2.2 of VI. Guidelines
5 10/29/2019 Updating Items II. Scope, III. Guidelines subitems 1, 2.2, 2.4, 3, 5, 6, 7, 9, 10 and 12, VII. Concepts and Acronyms and VIII. General Provisions.


I. Purpose

Establishing guidelines to offer products and services that promote the sustainable growth of Cielo S.A. (“Cielo” or “Company”), its partners and Clients, promoting positive impacts on society, current and future generations.

II. Scope

All members of the Management (officers, members of the Board of Directors and members of the Advisory Committees), members of the Fiscal Council and employees of the companies Servinet Serviços Ltda., Braspag Tecnologia em Pagamentos Ltda., Aliança Pagamentos e Participações Ltda. and Stelo S.A., hereinafter (“Cielo” or “Company”).
All of the Company’s Subsidiaries must establish their directives based on the guidance provided in this Policy, considering the specific needs and legal and regulatory aspects to which they are subject.
Regarding the Affiliated Companies, the Company’s representatives working in the Management of Affiliated Companies should make efforts to set their directive based on the guidance provided for in this Policy, considering the specific needs and legal and regulatory aspects to which they are subject.

III. Guidelines

1. Cielo’s main focus is to meet the clients’ needs with quality, reliability, availability, and efficiency, as well as promote sustainable business growth, positively impacting society.

2. The development of products and services and the approval of business models observe the internal evaluation methodologies, in which the following are mainly considered:

2.1. Optimizing the Company’s resources, whether financial, procedural and/or organizational, to ensure the highest performance efficiency.

2.2. Ensuring a win-win relationship between all market players (card issuers, brands, shareholders and partner companies) and, especially, the Client, be it a large institution, a micro-entrepreneur or a freelance or self-employed professional.

2.3. Considering macroeconomic, social and environmental impacts.

2.4. Complying with applicable product and service laws and legal compliance.

2.5. Formalizing the expert opinion of all departments involved and/or impacted in the Products and Services Forum.

3. In the development of products and services, Cielo’s role as a business partner of its Clients is considered, seeking to increase sales, simplify the receipt and better understand the portfolio. As well as making the payment of their purchases accessible to consumers.

4. Cielo develops products and services that enable the Client to offer loyalty campaigns or actions to consumers.

5. Cielo, when developing its products and services, considers the ease, simplicity and full usability by the Client in all existing channels of the Company, as well as promotes the creation of new capture solutions focused on its capillarity and wide presence in the market of payment methods.

6. To plan and analyze the impacts of new services and/or products or to make significant changes to existing products and services, the following are evaluated, among others: Optimization of Company’s resources, guarantee of an win-win relationship for all market agents (issuers, flags, shareholders and partner companies) and, mainly, for the Client, through resolution in the Products and Services Forum and expert opinion issued by all the involved areas.

7. Cielo plans, develops, innovates and re-positions its products and services, and corresponding business models, considering short, medium and long term social, environmental and macroeconomic impacts. In this sense, Cielo seeks to optimize the use of natural resources, reduce the emission of polluting agents and adapt to climate change. Social inclusion aspects are considered beyond the minimum required by law, encouraging the financial inclusion of underprivileged classes and customer segments with strong social impact, such as Non-Governmental Organizations (“NGOs”). With the development of products and services and the creation of payment solutions, Cielo helps strengthen the Brazilian economy, meeting governmental initiatives, promoting the growth and development of society.

8. Innovation, linked to the development of new products and services, with the purpose to maintain Cielo as a reference in network and payment services, as well as create value and strengths.

9. All employees, other stakeholders and the business units of the Company have an open channel to propose ideas and suggest improvements in processes and products, thus stimulating the innovation process. To this end, different communication channels are available to forward suggestions, complaints, and opinions.

10. Cielo provides Clients with clear information about its products and the use of its services through multiple communication channels.

11. The perceptions, opinions, and satisfaction of the clients are systematically monitored to understand their needs and guide the development of products and services to reconciles with their needs.

12. Products and services are analyzed throughout their entire life cycle for sustainable performance. The environmental and social externalities of Cielo’s products and services are evaluated, focusing on minimizing social and environmental impacts and identifying synergistic alternatives with sustainability.

IV. Management of Consequences

Employees, suppliers or other stakeholders who see any deviations from the guidelines of this Policy, may report the fact to the Ethics Channel ( or 0800 775 0808), anonymously or not.

Internally, noncompliance with the guidelines of this Policy will lead to the application of accountability measures against agents who fail to comply, according to the due severity of the noncompliance.

V. Responsibilities

  • Members of the Management and Employees: Observing and ensuring compliance with this Policy and, whenever necessary, seek the Vice Presidency of Products and Business for its opinion on situations involving conflict with this Policy or due to the occurrence of situations described therein.
  • Executive Vice Presidency of Products and Business: Complying with and enforcing the guidelines set forth herein, keeping them updated to ensure that any change in Cielo’s management is incorporated and clarifying doubts relating to its content and application.

VI. Additional Documents

  • Cielo’s Code of Ethical Conduct
  • Current laws and regulations.
  • Internal standards constantly improved and approved by the due levels of authority and made available to all employees.

VII. Concepts and Acronyms

  • Affiliated Companies: Companies in which the Company holds 10% (ten percent) or more of their capital, without, however, having control over them, pursuant to Article 243, Paragraph 1 of the Brazilian Corporation Law.
  • Subsidiaries: Companies in which the Company, directly or indirectly, holds rights as partner or shareholder, which permanently guarantee to the Company the preponderance in business resolutions and the power to elect the majority of the members of the Management, pursuant to Article 243, Paragraph 2 of the Brazilian Corporation Law.
  • Stakeholders: All relevant stakeholders with interests in the Company, or also individuals or entities assuming any type of direct or indirect risk against the company. Amongst others, we point out: investors, employees, society, customers, suppliers, partners, creditors, governments, regulators, competitors, media, associations and professional associations, the user of the electronic payment methods and non-governmental organizations.

VIII. General Provisions

The Company’s Board of Directors is responsible for amending this Policy whenever necessary.

This Policy takes effect on the date of its approval by the Board of Directors and revokes any contrary documents