FinTech: Brazilian Fintech Pismo In Play, Mastercard, Visa Likely Suitors

https://dailyalts.com/wp-content/uploads/2023/03/Pismo-Capture.png

Pismo is reportedly valued at about $1 billion.

Mastercard (NYSE: MA) and Visa (NYSE: V), two of the largest payment processing companies in the world, are reportedly in negotiations to purchase Brazilian fintech firm Pismo. The company provides cloud-based payment and banking platforms and is currently valued at around $1 billion. According to sources familiar with the matter, Pismo is working with Goldman Sachs (NYSE: GS) on a sale, and the interested parties include a bank and private equity funds. (Bloomberg)

However, an agreement has not been reached, and the talks could still end without one. Pismo’s investors include SoftBank Latin America Fund, Amazon.com, Falabella Ventures, and Redpoint eventures.

The company’s clients include Itau Unibanco Holding SA and Banco BTG Pactual.

Through Pismo’s platforms, banks and fintech companies can rapidly introduce products for digital banking, cards and payments, digital wallets, and marketplaces. The acquisition of the Brazilian fintech would be a significant move for both Mastercard and Visa as they look to expand their offerings and tap into the growing fintech market. However, representatives for Pismo, Mastercard, Visa, and Goldman Sachs refused to comment on the matter.

According to insiders, Visa submitted a second offer to buy Pismo last week, valuing the fintech firm at $1.4 billion. This news was reported on Valor Economico’s website Pipeline.

It remains to be seen whether the talks will result in an agreement, but if they do, it could signal a significant shift in the payment processing industry.

Related Story:  Canadian Fintech Nuvei To Buy Payments Provider Paya For $1.3B

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…