“Can a bank-owned holding company build an independent embedded-payments and loyalty ecosystem — spanning benefits, toll, loyalty, and now payment accounts — that competes with Brazil's fast-moving fintech neobanks?”
EloPar is not an operating fintech but a Brazilian holding company created in 2015 by Banco do Brasil and Banco Bradesco to consolidate their non-banking payment and loyalty ventures — Alelo (meal/benefit cards), Livelo (loyalty points), Veloe (toll/mobility), and Pede Pronto (food ordering). The group's most recent structural move is the 2025 launch of NAIP Instituição de Pagamento S.A., a Central Bank-regulated payment institution focused on corporate payroll accounts, which extends the group from card-scheme and benefits products into direct account issuance.
EloPar discloses NAIP Instituição de Pagamento S.A. (in-house) as its banking provider, according to the Embedded Finance Index 2026.
EloPar does not disclose a bank charter of its own; its banking services are provided through NAIP Instituição de Pagamento S.A. (in-house).
EloPar is founded in 2015 and headquartered in Barueri, São Paulo, Brazil.
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