April 24, 2019 / 1:10 PM / a month ago

Brazil's Cielo launches instant payments and sees prices still going down

SAO PAULO, April 24 (Reuters) - The chief executive of Cielo SA said on Tuesday the Brazilian card processor will offer clients free card reader machines and instant payments, following recent moves by competitors such as PagSeguro Digital Ltd and Itaú Unibanco Holding SA's unit Rede.

Paulo Caffarelli said prices charged by card processors in Brazil are still likely to go down in the coming months, amid fiercer competition, adding that it is still too early to determine if the company will reach its target for annual profit.

Reporting by Carolina Mandl Editing by Chizu Nomiyama

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