Visa Completes Acquisition of Pismo
16 Janeiro 2024 - 6:05PM
Business Wire
Visa (NYSE:V) today announced it has completed its acquisition
of Pismo – a global cloud-native issuer processing and core banking
platform.
With the transaction complete, the combination of Visa and Pismo
will provide clients with core banking and card-issuer processing
capabilities across all product types via cloud native APIs.
Pismo’s platform will also enable Visa to provide support and
connectivity for emerging payment schemes and RTP networks for
financial institution clients.
“Core banking and issuer processor capabilities are key
offerings for many of our financial institution and fintech
partners’ clients,” said Jack Forestell, Chief Product and Strategy
Officer at Visa. “With the combination of Visa and Pismo, we can
now broaden these offerings and better serve the ecosystem.”
“The combination of Visa and Pismo will enable our clients to
launch innovative payments and banking products within a single
cloud-native platform regardless of network, geography, or
currency. The closing marks a new era for banking and payments,”
said Ricardo Josua, Co-Founder and CEO, Pismo.
Pismo will retain its current management team led by Ricardo
Josua.
About Visa Inc.
Visa (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.
About Pismo
Pismo is a technology company providing an all-in-one processing
platform for banking, payments, and financial markets
infrastructure. Large banks, marketplaces, and fintech companies
use our cloud-native microservices platform to launch
next-generation solutions and move from legacy systems to the most
advanced technology in the market. The Pismo cloud-based platform
empowers firms to build and launch financial products rapidly,
scaling as they grow to have a broader audience while keeping high
security and availability standards.
Forward-Looking Statements
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, Pismo’s future success, the impact of the acquisition on Visa’s
growth, Pismo’s operational plans 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, 2023, and our other filings with
the U.S. Securities and Exchange Commission.
You 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240116738616/en/
Visa Constantine Panagiotatos Press@visa.com
Pismo Debora Fortes press@pismo.io
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