{"id":766764,"date":"2023-06-28T16:12:30","date_gmt":"2023-06-28T20:12:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/visa-to-acquire-pismo\/"},"modified":"2023-06-28T16:12:30","modified_gmt":"2023-06-28T20:12:30","slug":"visa-to-acquire-pismo","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/visa-to-acquire-pismo\/","title":{"rendered":"Visa to Acquire Pismo"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>Visa to Acquire Pismo<\/b><\/p>\n<p>SAN FRANCISCO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nVisa (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.<\/p>\n<p>\nBy 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\u2019s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients.<\/p>\n<p>\n\u201cThrough 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,\u201d said Jack Forestell, Chief Product and Strategy Officer, Visa.<\/p>\n<p>\n&#8220;At Pismo, we aim to enable our clients to launch cutting-edge payments and banking products within a single cloud-native platform \u2013 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,\u201c said Ricardo Josua, Co-Founder, CEO, Pismo.<\/p>\n<p>\nPismo 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.<\/p>\n<p><b>About Visa Inc.<\/b><\/p>\n<p>\nVisa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.<\/p>\n<p><b>About Pismo<\/b><\/p>\n<p>\nPismo 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\u2019s investors include Redpoint eventures, Softbank, Amazon and Accel.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>\nThis 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 \u201cwill,\u201d \u201cis expected,\u201d 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\u2019s future success, the impact of the acquisition on Visa\u2019s growth, and the other benefits to Visa, financial institutions and consumers.<\/p>\n<p>\nBy 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\u2019s 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.<\/p>\n<p>\nYou should not place undue reliance on such statements. Except as required by law, we do not intend to update or revise any forward-looking statements as a result of new information, future developments or otherwise.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230628532201r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230628532201\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230628532201\/en\/<\/a><\/span><\/p>\n<p><b>Media Contacts<\/b><\/p>\n<p>\nVisa<br \/>\n<br \/>Constantine Panagiotatos<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@visa.com\">press@visa.com<\/a><\/p>\n<p>\nPismo<br \/>\n<br \/>Debora Fortes<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:press@pismo.io\">press@pismo.io<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Brazil United States South America North America Latin America Asia Pacific Europe California<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Technology Payments Finance Fintech Banking Electronic Commerce Professional Services Digital Cash Management\/Digital Assets Internet<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230628532201\/en\/1260353\/3\/Visa_Brandmark_Blue_RGB_72ppi.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Visa to Acquire Pismo SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; 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\u2019s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients. \u201cThrough 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/visa-to-acquire-pismo\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Visa to Acquire Pismo&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-766764","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Visa to Acquire Pismo - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/visa-to-acquire-pismo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Visa to Acquire Pismo - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Visa to Acquire Pismo SAN FRANCISCO&#8211;(BUSINESS WIRE)&#8211; 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\u2019s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients. \u201cThrough 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 &hellip; Continue reading &quot;Visa to Acquire Pismo&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/visa-to-acquire-pismo\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-28T20:12:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230628532201r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/visa-to-acquire-pismo\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/visa-to-acquire-pismo\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Visa to Acquire Pismo\",\"datePublished\":\"2023-06-28T20:12:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/visa-to-acquire-pismo\\\/\"},\"wordCount\":639,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/visa-to-acquire-pismo\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&amp;sty=20230628532201r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/visa-to-acquire-pismo\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/visa-to-acquire-pismo\\\/\",\"name\":\"Visa to Acquire Pismo - 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