Cartão Elo
Cartão Elo is a 100% Brazilian payment card brand (bandeira) founded in 2011 by Banco do Brasil, Bradesco, and CAIXA, operating a four-party card network with credit, debit, and business cards distributed through 14+ issuing banks and 346 payment-arrangement participants across Brazil and 200+ countries.
- Company typePrivate
- Founded2011
- HeadquartersBarueri, Brazil
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
What Cartão Elo does
Cartão Elo (legal entity Elo Serviços S.A.) is a 100% Brazilian payment card brand (bandeira) founded on April 4, 2011 as a joint venture between three of Brazil's largest banks: Banco do Brasil, Bradesco, and CAIXA Econômica Federal. The company operates as a four-party payment network, providing the underlying scheme, technology, and brand rather than issuing cards directly to consumers. Its portfolio spans six credit-card tiers (Elo Grafite, Elo Diners Club, Elo Nanquim, Elo Mais, Elo Básico Nacional, Elo Básico Internacional), a free debit card (Elo Débito), and three business-card tiers targeting MEI, PME (R$360K–R$300M), and large corporates (above R$300M). Distribution is achieved through a network of 14+ issuing banks (including Banco do Brasil, Bradesco, CAIXA, Banco Pan, BV, Banese, Banco Becker, Verdecard, Vólus, Crefisa, Asaas, Banco Bari, Banco Mercantil, and Pernambucanas/Pefisa) and 346 registered participants in its CIP payment arrangement.
Underlying technology includes proprietary tokenization and fraud-prevention platforms, QR Code and NFC contactless payment infrastructure, and digital wallet integrations with Apple Pay and Google Pay. The Elo Flex benefits-customization platform allows cardholders to select 3–6 benefits per tier; Elo Performance e Insights offers paid data-analytics and consulting to issuer, acquirer, and retailer partners; and the Elo Conecta program integrates 20+ startups across payments, cybersecurity, and analytics. International acceptance in 200+ countries is enabled via partnerships with Diners Club International, Discover Global Network, and Pulse, with cash access at 1.2M+ ATMs across 140+ countries.
Revenue is generated primarily through interchange fees on transactions, supplemented by issuer/acquirer network participation fees, Elo Flex upsell economics, and Elo Performance e Insights consulting. End-consumer pricing (annual fees, interest rates, credit limits) is set by each issuing bank rather than by Elo directly. The company operates with 251–500 employees and is privately held under joint ownership of its three founding banks.
Cartão Elo firmographics
Firmographics- Name
- Cartão Elo
- Legal name
- Elo Serviços S.A.
- Website
- https://elo.com.br
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Cartão Elo is a 100% Brazilian payment card brand (bandeira) founded in 2011 by Banco do Brasil, Bradesco, and CAIXA, operating a four-party card network with credit, debit, and business cards distributed through 14+ issuing banks and 346 payment-arrangement participants across Brazil and 200+ countries.
- Ownership category
- akta.pro rank
Cartão Elo industry classification
Industry- Product category
- Payment Card Network
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Embedded Card Issuing & Card-as-a-Service (FSAGALAC)
Keywords
Where Cartão Elo is headquartered
LocationHeadquarters
- HQ city
- Barueri
- HQ country
- Brazil
- HQ region
- Latin America
Offices1 record
Markets served
Cartão Elo business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Interchange Fees (Taxa de Interchange): Elo charges interchange fees on every transaction made with its cards. These fees are paid by merchants' acquirers (credenciadores) to card issuers, with Elo retaining a portion as the network operator. This is the primary revenue stream for a card network.
- Issuer and Acquirer Network Fees: Elo generates revenue from fees charged to its network of issuing banks (emissores) and acquiring institutions (credenciadores) for participation in the Elo payment network, including licensing, processing, and value-added services.
- Elo Performance e Insights - Consultoria: Elo offers paid consulting and data analytics services to issuer, acquirer, and retailer partners. Services include customer acquisition analytics, activation metrics, rentabilization models, loyalty programs, campaign design, and benchmarking reports.
- Elo Flex - Flexible Benefits Upsell: Elo Flex allows cardholders to select additional benefits beyond their base package. While the base tier includes some complimentary benefits, premium customizations generate incremental value and differentiate card tiers across issuers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Elo Grafite - Mid-tier credit card with travel benefits and flexible Elo Flex benefits |
| Subscription | Annual | Elo Diners Club - Premium credit card with up to 4 flexible benefits |
| Subscription | Annual | Elo Nanquim - Premium credit card with up to 6 flexible benefits |
| Subscription | Annual | Elo Mais - Entry-level credit card with flexible benefits |
| Subscription | Annual | Elo Básico Nacional and Elo Básico Internacional - Entry-level cards |
| Subscription | Monthly | Elo Débito - Free debit card with no additional fees |
Go-to-market motion3 records
Distribution channels18 records
Marketing channels9 records
Cartão Elo product offering
Product offeringCore offering
Elo Serviços S.A. is a Brazilian payment card brand that designs, operates and licenses credit, debit, prepaid and benefits card products to issuing banks and acquirers. It also markets dedicated business card lines for MEI, SME and corporate customers, and provides analytics consulting through Elo Performance e Insights. Card acceptance is extended internationally via partnerships with Discover, Diners Club International, Pulse and JCB.
Product overview
Cartão Elo is a 100% Brazilian payment card brand offering a comprehensive portfolio of credit, debit, and business cards through multiple issuing banks. The product lineup includes six credit card variants (Elo Grafite, Elo Diners Club, Elo Nanquim, Elo Mais, Elo Básico Nacional, Elo Básico Internacional), debit cards, and three business card tiers (MEI, PME, and Corporate). The ecosystem is extended by the Elo Flex flexible benefits platform allowing cardholders to customize their benefits, the Elo Voucher service, and international payment capabilities via Diners Club and Discover networks. Elo also provides digital payment technologies including QR Code and NFC contactless payments, tokenization, and fraud prevention platforms. Business-focused offerings include the Elo Performance e Insights consulting service, the Elo Conecta open innovation program connecting with startups, developer portals (Dev.Elo), and a sub-acquirer partner portal. The company operates through a network of issuing banks including Banco do Brasil, Bradesco, Caixa Econômica Federal, and others.
Differentiator
Problem solved
Functional benefit
Brands
- Elo Grafite: Credit card with benefits, offers and advantages for all moments of life, with travel advantages and daily savings
- Elo Diners Club
- Elo Nanquim
- Elo Mais
- Elo Básico Nacional
- Elo Básico Internacional
- Elo Débito
- Elo Empresarial
Products and services
- Elo Grafite Credit Card
- Elo Diners Club Credit Card
- Elo Nanquim Credit Card
- Elo Mais Credit Card
- Elo Básico Nacional Credit Card
- Elo Básico Internacional Credit Card
- Elo Débito (Debit Card)
- Elo Empresarial MEI Business Card
- Elo Empresarial PME Business Card
- Elo Empresarial Corporativo Business Card
- Elo Flex (Benefits Card Platform)
- Elo Internacional (International Payment Service)
- Elo Performance e Insights (Consulting and Analytics)
- Elo Voucher (Digital Voucher Service)
Quantifiable outcome
- Elo cards accepted in 200+ countries and territories
- +3 more outcomes
Companies that use Cartão Elo
Customer profileNamed customers32 records
Segments5 records
Ideal customer profiles3 records
Cartão Elo technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration19 records
Feature5 records
Cartão Elo partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered founding/flagship, core, major and minor.
- Bradescofounding/flagshipBradesco is one of the three founding partners of Elo, established on April 4, 2011. Through its credit card subsidiary Bradescard and direct banking operations, Bradesco issues multiple Elo card tiers and serves as a major distribution channel. The founding partnership provides Elo with strong market credibility and a nationwide distribution network.
- CAIXA Econômica Federalfounding/flagshipCAIXA is one of the three founding partners of Elo, established on April 4, 2011. As Brazil's largest public savings bank, CAIXA issues Elo Diners Club, Elo Grafite, Elo Básico Internacional, and Elo Débito cards. The partnership gives Elo access to CAIXA's extensive branch network and government employee customer base.
- Banco do Brasilfounding/flagshipBanco do Brasil is one of the three founding partners of Elo, established on April 4, 2011. As a majority shareholder, Banco do Brasil issues all major Elo card tiers and is the primary distribution channel for Elo products. The partnership is foundational to Elo's governance and market positioning as Brazil's largest domestic payment brand.
- Diners Club InternationalcoreElo has a strategic partnership with Diners Club International for international card acceptance. Elo Diners Club and Elo Nanquim cardholders benefit from Diners Club's global acceptance network. Additionally, Diners Club enables Elo to offer international cash withdrawals at ATMs worldwide through the Diners Club Cash network.
- Discover Global NetworkcoreElo cards are accepted through the Discover, Diners Club, and Pulse networks in the USA, Canada, Mexico, and Caribbean, as well as globally. This partnership is essential for Elo's international expansion strategy and enables Elo International cardholders to use their cards at millions of merchants worldwide.
- Pulse (Network)corePulse is a U.S. debit network that enables Elo debit and credit cards to be accepted at ATMs and merchants throughout the United States, Canada, Mexico, and the Caribbean. This partnership extends Elo's international footprint to North American markets.
- Elo Conecta Startups (Elo Conecta Program)coreElo's open innovation program connects early-stage startups with Elo's payment ecosystem. Selected startups gain access to Elo's scale and infrastructure to develop proofs of concept, pilots, and commercial partnerships. The program covers payment solutions, cybersecurity, data analytics, and digital services. Partner startups include Lumx Studios, VAAS, Cconsensus, Tokenverse, Bitshopp, NFTickit, Datarisk, Iniciador, Kublau, Fullface, Ironchip, Swipe, Interlock, Fligoo, OpenElegancy, MLabs, Skore, Movva, SpinPay, Trio, Pluggy, Sentimonitor, Prometeo, and Sonica.
- SebraemajorElo has a partnership withSebrae (Serviço Brasileiro de Apoio às Micro e Pequenas Empresas) to provide free exclusive business content for Elo business cardholders. The partnership aims to help MEI and SME owners grow their businesses through educational resources, supporting Elo's positioning as a partner to Brazilian entrepreneurs.
- Fundação Dom Cabral (FDC)majorElo partnered with Fundação Dom Cabral, one of Brazil's top business schools, to conduct research on how Brazilians use payment methods. The study established a payment maturity index and revealed consumer spending trends. This partnership establishes Elo's thought leadership in the Brazilian payments market.
- DecolarmajorDecolar is a major Latin American online travel agency and an exclusive Elo partner offering up to 10x interest-free installment payments on flights, hotels, resorts, and packages for Elo cardholders.
- iFoodmajoriFood is Brazil's leading food delivery platform and a key Elo partner. Elo Grafite cardholders receive 12 months of complimentary Clube iFood membership, while other Elo tiers offer exclusive discounts and benefits on the platform.
- DeezerminorDeezer music streaming is offered as a benefit on select Elo cards, giving cardholders access to ad-free music, podcasts, and radio stations.
- Clube Livelo (Pontos Livelo)minorLivelo is a Brazilian loyalty program partner of Elo, allowing Elo cardholders to earn and redeem points on select credit cards. Elo offers up to 60,000 bonus points on Livelo subscriptions.
- CinemarkminorCinemark is a major Brazilian cinema chain partner offering 25% discount on popcorn combos for Elo debit and credit cardholders, valid for online and physical box office purchases.
- Google PaycoreElo cards are integrated with Google Pay, allowing Android users to pay with their Elo cards via the Google Pay digital wallet for secure and convenient mobile payments.
- Apple PaycoreElo cards are integrated with Apple Pay, enabling iPhone users to pay with their Elo cards via Apple Pay for secure contactless mobile payments.
- Uber (and Uber Mercado)minorUber is listed as an accepted payment method for Elo debit cards in the 'Transporte' category on the Elo website, enabling cardholders to pay for rides and Uber Mercado deliveries using Elo debit.
- 99 (99 Taxis)minor99 (99 Taxis), a major Brazilian ride-hailing app, is listed as an accepted payment method for Elo debit cards on the Elo website, enabling cardholders to pay for taxi rides using Elo debit.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Cartão Elo competitors and assessment
Company assessmentBroad incumbents
- Visa: Global card network operator with dominant international acceptance. Visa is the closest global analogue to Elo's card-network business model (interchange-driven, bank-issued) but operates at vastly greater scale and international reach, and competes directly with Elo in Brazil's premium and international card segments.
- Mastercard: Global card network operator with a comparable interchange-based, bank-issued business model. Mastercard competes head-to-head with Elo for Brazilian issuer bank relationships and premium card positioning, while offering deeper international acceptance and merchant benefits.
- American Express: Premium global card network with closed-loop and bank-issued models. Elo Diners Club cards explicitly leverage the Diners Club / Amex global acceptance network, and Amex competes for the same premium Brazilian consumer that Elo targets with Elo Nanquim and Elo Diners Club tiers.
- Discover Financial Services: U.S.-based card network now part of Capital One, and a direct partner of Elo for international acceptance through Discover, Pulse, and Diners Club networks. Discover's card-network economics and bank-issued distribution model are directly comparable to Elo's domestic network business.
Direct peers
- Hipercard: Brazilian domestic payment card network (bandeira) historically associated with Banco Itaú, operating in the same niche as Elo — domestic-only credit, debit, and prepaid cards issued through partner banks. Hipercard is the most directly comparable Brazilian competitor to Elo, particularly in the mid- and entry-tier consumer segments.
- Alelo: Brazilian benefits and corporate payments company (owned by Banco do Brasil and Bradesco, Elo's founding shareholders). Alelo operates in the corporate benefits, meal vouchers, and prepaid card space that overlaps with Elo Empresarial and Elo Flex, and its shared ownership makes it both an ally and a partial competitor inside the Elo shareholder group.
Regional players
- Rede (Itaú): Brazilian acquirer and payment processor owned by Itaú Unibanco, the parent of Hipercard. Rede competes with Elo's broader payments ecosystem on the acquiring/processing side and through Hipercard on the network side, making it a relevant Brazilian payment-stack peer rather than a direct network head-to-head.
- Cielo: Brazil's largest acquirer, originally a joint venture of Banco do Brasil, Bradesco, and Itaú (with Banco do Brasil and Bradesco later divesting). Cielo is on the merchant side of Elo's transaction flow and competes for payment-processing economics that Elo's Performance e Insights and tokenization services also target.
Emerging players
- PagSeguro / PagBank: Brazilian fintech offering acquiring, digital wallets, and its own payment products (including Mini-Chip card readers and the Banco PAN-issued card products). PagBank competes with Elo in sub-acquiring and payment acceptance, and is one of Elo's registered sub-acquirers in the Elo payment arrangement.
- Stone Co. Brazilian fintech acquirer with its own payment products, including Ton card account and Stone branded card offerings. Stone competes with Elo primarily in the acquiring and SMB payments space, but its growing consumer-account ambitions bring it closer to the Elo Flex / Elo Empresarial value proposition over time.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Cartão Elo social profiles
Digital presenceCartão Elo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Cartão Elo leadership team
Management profileNumber of profiles
Profiles2 records
Cartão Elo funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Cartão Elo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Cartão Elo
What does Cartão Elo do?
Elo Serviços S.A. is a Brazilian payment card brand that designs, operates and licenses credit, debit, prepaid and benefits card products to issuing banks and acquirers. It also markets dedicated business card lines for MEI, SME and corporate customers, and provides analytics consulting through Elo Performance e Insights. Card acceptance is extended internationally via partnerships with Discover, Diners Club International, Pulse and JCB.
Is Cartão Elo a public or private company?
Cartão Elo is a private company. It is classified as corporate owned and is currently operating.
When was Cartão Elo founded?
Cartão Elo was founded in 2011. It employs 251 to 500 people.
Where is Cartão Elo based?
Cartão Elo is headquartered in Barueri, Brazil, in the Latin America region.
How does Cartão Elo make money?
Four revenue lines are on record. Interchange Fees (Taxa de Interchange) is the primary driver. The others are issuer and Acquirer Network Fees, elo Performance e Insights - Consultoria and elo Flex - Flexible Benefits Upsell.
Who are Cartão Elo's main competitors?
Broad incumbents on record are Visa, Mastercard, American Express and Discover Financial Services. Direct peers are Hipercard and Alelo. Regional players are Rede (Itaú) and Cielo. Emerging players are PagSeguro / PagBank and Stone Co..
Does Cartão Elo have an API?
No public API is recorded for Cartão Elo.
What industry is Cartão Elo in?
Cartão Elo's product category is Payment Card Network. Its primary akta.pro industry code is FSAGALAC, Embedded Card Issuing & Card-as-a-Service. Its NAICS code is 523 and its SIC code is 6200.