About
Elo is Brazil's domestic card network, launched in 2011 and run by Elo Serviços S.A., and it is owned by three Brazilian banks: Banco do Brasil, Bradesco and Caixa Econômica Federal. Elo does not issue cards itself; its shareholder banks and a growing number of other issuers put the Elo brand on debit, credit and business cards used in Brazilian shops and online checkouts. Outside Brazil, 'Elo Global' cards work on the Discover Global Network under a 2015 agreement. Elo closed 2023 with 42 million active cards and R$357 billion in total payment volume for the year.
Selecting banks for a potential US IPO in H2, seeking to raise up to $500m.
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