Acquirer: Companies responsible for capturing, processing, transmitting and settling transactions, affiliating merchants and implementing and managing an acceptance network.
Active Merchants: Merchants that have conducted at least one credit or debit card transaction within the preceding 180 days.
Arbitration Panel: Market Arbitration Panel, introduced by BM&FBOVESPA.
BMVRL: Brazilian Merchant Voucher Receivables Limited, a special purpose company established for issuing in the international market securities backed by receivables. Cielo does not have direct or indirect ownership interest in BMVRL.
Brand: Company which owns the property rights and franchises its brands and logos for acquiring companies and card issuers.
BRGAAP: Generally accepted accounting principles adopted in Brazil, according to the Brazilian Corporate Law and its amendments, rules and regulations by the CVM and by the Brazilian Institute of Independent Auditors (IBRACON) and resolutions by the Federal Accounting Council.
CAGR: Compound annual growth rate.
Card: Means of identification and payments, issued and granted by issuers, for personal and non-transferable use of cardholders, with or without multiple functions, of debit, credit and installment credit for consumers (CDC), among others.
Co-Branded Private Label Card: Credit card issued by a large retailer that carries the retailer's brand and is associated with a card brand, with the aim of increasing customer loyalty.
Electronic Capture Equipment: POS and PIN pads.
Free Float: Shares issued by the Company and readily available in the market, except for those held by the controlling shareholders, by their related persons, by Company's management and treasury shares.
IFRS: International Financial Reporting Standards.
Interchange Fee: Fee paid by the acquirer to the card issuer.
Lock-in Bank Domicile Services: Service provides to card issuers, upon previous authorization of the merchant, of depositing all funds from the merchant's receivables that are transferred through credit or debit card transactions into the bank that is the merchant's domicile bank. Merchants that are subject to a lock-in bank domicile cannot transfer their receivables without the consent of the card issuer.
Merchant Discount Rate: The fee acquirers charge merchants for the services of capturing, processing, transmitting and settling transactions.
Net Merchant Discount Rate: The merchant discount rate net of the interchange fee. It is the revenue from commissions obtained by the acquirer.
Novo Mercado Listing Rules: Rules that apply to publicly-held companies for the trading of their securities on Novo Mercado that establish differentiated corporate governance practices.
PDV: The point of sale equipment owned by the merchant.
POS: Electronic point of sale capture equipment.
Private Label Card: Credit card issued by a large retailer that carries only the retailer's brand, with the aim of increasing customer loyalty.
Transaction: All and any acquisition of goods and services using branded credit or debit cards. When a payment is made in installments, each installment is considered as a new transaction.
Transaction Volume: Financial volume of transactions captured, processed, transmitted, and settled by acquirers or any other entity responsible for the settlement of transactions.
Troco Fácil: Cash back. This product allows Visa Electron cardholders to withdraw cash at the time of purchase at affiliated merchants that are licensed by the Company to accept this product.
USGAAP: Generally accepted accounting principles in the United States.
Visa Brand: The Visa International brand.
Visa do Brasil: Visa do Brasil Empreendimentos Ltda.
Visa International: Visa International Service Association.
Visa Vale: A Visa-branded benefit card for meals and groceries.