Elo Payment – A Review of This Brazilian Card Issuer

May 23, 2022

Elo Payment is a domestic credit card payment scheme in Brazil. It was established by three different banks— Banco do Brasil, Caixa Economica Federal, and Banco Bradesco. It is Brazil’s most popular payment method, having issued over 120 million cards. So far, it issues credit, debit, and prepaid cards, allowing customers to shop online and pay with Brazilian currency.

The card is accepted in over 200 countries, which means customers can securely shop in international e-commerce stores. Aside from issuing cards, Elo also features payments in installments scheme. Many cardholders take advantage of this card feature because it allows them to pay for a purchase over several months.

This card is supported by several payment providers:

  • BoaCompra
  • Computop
  • Paygol
  • Epag
  • Novalnet AG
  • Paydo
  • Unzer E-com GmbH
  • PayRetailers

Over the years, the card company helped merchants attract new clients. Merchants choose to partner with Elo because they believe it will help grow their businesses.


Elo Payment Merchant Services

Credit Card

Most merchants and payment service providers accept Elo cards as payment. Businesses will do well partnering with Elo to start processing the most popular payment method in Brazil. Customers with Elo cards can also purchase from international online stores. The transaction will appear in the local currency equivalent on the statement of account.

High-risk Payment Processing

Elo is a card issuer, so high-risk industries can also apply for a card. They can use this card to pay for services and settle their dues with suppliers.

Real-time Authorization

One of the things that Elo is most proud of is its instant transactions. Customers and merchants will receive a notification about the transaction. This helps confirm payments and stop fraudulent transactions from getting approved. Elo is part of an extensive network that speeds up the processing.

Secure Payments

Elo understands that to last long in this industry, it needs to innovate. It currently offers the most reliable services and safe transactions. Aside from issuing credit cards, Elo also offers prepaid cards, 3DS authentication, tokenization, and NFC-enabled payments.




The Elo card can be personalized. Consumers can use the app to access banking information and transactions. They can access these features no matter where they are in the world through online banking and integrated apps and tools. Also, users will receive additional perks such as premiere airport lounge access and money withdrawal abroad.


Elo Payment Fees, Rates & Pricing

Processing Fees

Elo does not publish its interest rates and processing fees. Payment processors will charge anywhere from $0.12 and up per transaction. This depends on the payment service provider.

Additional Fees

There is no information about Elo’s additional fees.

Hidden Charges

It doesn’t look like Elo has hidden charges.


Elo Payment Complaints

There are no recorded complaints about Elo.

Rip Off Reports

There are no formal rip-off reports about Elo. The amount you need to pay will depend on how much you charge on your credit card. As for your debit card, you’ll only be able to spend the amount the account has.


Other Complaints

There are no other complaints about Elo.


Elo Payment BBB Rating

Elo is not accredited and rated by the Better Business Bureau (BBB), which accredits companies based in the United States, Canada, and Mexico. Even though Elo is not technically a payment processor, BBB can still give it a rating between A+ and F if it’s a member.


BBB Reviews

Elo is not listed on the BBB website. Therefore, there are no reviews or complaints about it.


Is Elo Payment Legitimate?

Elo is the most trusted payment solution in Brazil. Though it only accepts the local currency, consumers can use their Elo cards in international online stores. Their payments will be processed in the local currency. Any business that wants to succeed in the region should have Elo on its list of payment methods.

It is more than just an alternative payment method. Elo is the payment method that most Brazilians use for their online shopping. It does not have its own website, so ScamAdviser cannot check if it’s safe to browse.

However, the company has profiles on reputable professional networking sites, and they back claim that Elo has a wide reach in Brazil.


There are no scam reports about Elo.


There are no lawsuits filed against Elo.


Elo Payment Customer Reviews

There are no customer reviews about Elo. The company has no social media accounts, so there’s no way to know customers’ opinions of it.



Unfortunately, Elo doesn’t have a separate website to provide details about its services. Payment service providers mentioned Elo in the list of debit and credit cards they accept. They also said that Elo is a leading domestic credit card in Brazil. According to payment service providers, many customers use using Elo for online purchases.

If you are a merchant looking for a payment processing provider, Elo isn’t it. However, you must make sure that whatever payment processor you have will readily accept Elo as one of the primary payment methods. Expanding your business beyond physical stores means reaching out to new markets and ultimately improving profitability.

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