SAN FRANCISCO – JUNE 28, 2023 – Visa (NYSE: V) today announced it has signed a definitive agreement to acquire Pismo, a cloud-native issuer processing and core banking platform with operations in Latin America, Asia Pacific and Europe, for $1 billion in cash.
By acquiring Pismo, Visa will be positioned to provide core banking and issuer processing capabilities across debit, prepaid, credit and commercial cards for clients via cloud-native APIs. Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients.
“Through the acquisition of Pismo, Visa can better serve our financial institution and fintech clients with more differentiated core banking and issuer solutions they can offer their customers,” said Jack Forestell, Chief Product and Strategy Officer, Visa.
“At Pismo, we aim to enable our clients to launch cutting-edge payments and banking products within a single cloud-native platform – regardless of rails, geography or currency. Visa provides us unrivalled support to expand our footprint globally and help shape a new era for banking and payments,” said Ricardo Josua, Co-Founder and CEO at Pismo.
Pismo will retain its current management team. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by the end of 2023.
Acerca de Visa Inc.
Visa (NYSE: V) es un líder mundial en pagos digitales, facilitando transacciones de pago entre consumidores, comercios, instituciones financieras y entidades gubernamentales en más de 200 países y territorios. Nuestra misión es conectar al mundo con la red de pagos más innovadora, conveniente, confiable y segura, para ayudar a que individuos, comercios y economías puedan prosperar. Creemos que las economías inclusivas impulsan a todos, en todas partes y vemos el acceso como fundamental para el futuro del movimiento de dinero. Más información en http://visa.com/
Acerca de Pismo
Pismo is a technology company with deep experience developing and implementing banking and cards solutions for digital banks and large financial institutions. The company has operations in Latin America, Southeast Asia and Europe. The company’s investors include Redpoint eventures, Softbank, Amazon and Accel.
Contacto de medios
Visa
Constantine Panagiotatos
[email protected]
Pismo
Debora Fortes
[email protected]
Declaraciones prospectivas
This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are identified by words such as “will,” “is expected,” and other similar expressions. Examples of forward-looking statements include but are not limited to, statements we make regarding the timing and likelihood of closing, Pismo’s future success, the impact of the acquisition on Visa’s growth, and the other benefits to Visa, financial institutions and consumers.
By their nature, forward-looking statements: (i) speak only as of the date they are made; (ii) are not statements of historical fact or guarantees of future performance; and (iii) are subject to risks, uncertainties, assumptions or changes in circumstances that are difficult to predict or quantify. Therefore, actual results could differ materially and adversely from Visa’s forward-looking statements due to a variety of factors, including the timing and outcome of the regulatory approval process, shifts in the regulatory and competitive landscape, cybersecurity incidents, the pace and success of integration, and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2022, and our other filings with the U.S. Securities and Exchange Commission.
No debe confiar indebidamente en dichas declaraciones. Salvo que lo exija la ley, no tenemos intención de actualizar ni revisar ninguna declaración prospectiva como resultado de nueva información, desarrollos futuros o de otro tipo.
