Brazil’s Largest Payment Processing Service, Ceilo Integrates Crypto Payment

The largest payment processing service in Brazil, Cielo has come out to announce that it will now support Bitcoin and other cryptocurrency purchases on all its PoS devices. Putting this in perspective, Brazilians will now be able to make cryptocurrency purchases on 1.4 million PoS devices across the country. The services of Cielo extend to more than 5,000 municipalities in Brazil.

According to a report by Cointelegraph, users can pay for purchases on Cielo PoS devices by simply scanning QR codes. At the point of payment, the PoS device will generate a QR code which can be scanned by a customer’s smartphone to initiate payment.

Using the service however comes with a clause or rather a criteria, and that is the fact that a customer must have an account with Criptohub or Uzzo (partners of Cielo) in order to make payment.

Paul Caffarelli, Cielo’s president noted that their partner banks, including Bradesco, support the idea of integrating crypto payments. There is also the possibility that the service will be extended beyond PoS machines by October. Cielo mobile app will be used to generate the QR code instead of a PoS device.