Products and Services Policy

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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.
6 12/17/2021 Update of items: I. Purpose, II. Scope, IV. Consequence Management, V. Responsibilities, VI. Supplementary Documentation and VII. Concepts and Acronyms, in addition to sub-items 2.4, 2.5, 2.6, 6 and 8 of item III. Guidelines


I. Purpose

The purpose of this Products and Services Policy (“Policy”) is to establish the guidelines to offer products and services that promote the sustainable growth of Cielo S.A., its subsidiaries and affiliate companies, partners and Clients, promoting positive impacts for society, as well as for present and future generations.

II. Scope

All administrators (executive officers, members of the Board of Directors and of the Advisory Committees), members of the Audit Board and employees of Cielo S.A., Servinet Serviços Ltda., Aliança Pagamentos e Participações Ltda. and Stelo S.A., hereinafter referred to as “Company”.
All the Company’s Subsidiaries must define their directions based on the guidelines set forth in this Policy, considering the specific needs and the legal and regulatory aspects to which they are subject.
With respect to the Affiliated Companies, the Company’s representatives who act in managing its Affiliated Companies must make every effort to define their directions based on the guidelines set forth in this Policy, considering the specific needs and the 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. Consequence Managements

Employees, suppliers or other stakeholders who observe any deviations from the guidelines of this Policy may report the fact to the Ethics Channel through the channels below, with the option of anonymity:

  • Phone, toll-free: 0800 775 0808

Internally, non-compliance with the guidelines of this Policy gives rise to the application of accountability measures for agents who fail to comply with it, according to the respective severity of the non-compliance, and in accordance with internal regulations.

V. Responsibilities

  • Administrators and Employees: Observe and ensure compliance with this Policy and, when necessary, call the Vice Presidency of Customer Experience for consultation on situations involving conflict with this Policy, as well as upon the occurrence of situations described herein.
  • Vice Presidency of Customer Experience: comply with and enforce the guidelines set forth in this Policy, keep it updated to ensure that any changes to its guidance are incorporated hereto, and clarify doubts regarding its content and application.
  • Products and Services Forum: advise the Executive Board with a focus on the quality and efficiency of the activities performed by the Company related to the development and monitoring of its products and services, ensuring its strategic objectives and values in coherence with the basic principles of corporate governance. In addition, the Products and Services Forum will be responsible for recommending to the Executive Board, as well as monitoring, the best practices adopted or to be adopted by the Company with regard to the operational model adopted for its products and services.

VI. Additional Documents

  • Cielo’s Code of Ethics
  • Laws and regulations in effect.
  • Internal Regulations of the Products and Services Forum.
  • Internal standards that are constantly improved, approved by the competent approval authority, and provided to all employees.

VII. Concepts and Acronyms

  • Executive Board: the body responsible for managing the company’s business, executing the strategy and general guidelines approved by the Board of Directors. Through formalized processes and policies, the Executive Board enables and disseminates the organization’s purposes, principles, and values.
  • Affiliated Companies: companies in which the Company holds 10% (ten percent) or more of their capital, without, however, controlling them, under the terms of article 243, paragraph 1 of the Brazilian Corporation Law.
  • Subsidiaries: companies in which the Company, directly or indirectly, holds partner or shareholder rights that assure it, on a permanent basis, preponderance in the corporate decisions and the power to elect the majority of the managers, under the terms of article 243, paragraph 2 of the Brazilian Corporation Law.
  • Stakeholders: all relevant target audiences with interests pertinent to the Company, as well as individuals or entities that assume some type of risk, direct or indirect, with respect to the Company. Among others, the following are highlighted: investors, employees, society, clients, suppliers, partners, creditors, governments and regulatory bodies, competitors, press, associations and class entities, users of electronic means of payment, 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