Visa Completes Acquisition of YellowPepper

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Nov 20, 2020 05:15 pm
MIAMI -- 

Today, Visa (NYSE: V) announced that it has completed the acquisition of YellowPepper, a fintech pioneer with proprietary technology and partnerships supporting leading financial institutions and startups in Latin America and the Caribbean. The acquisition, which is the first of its kind for Visa in the region, accelerates the adoption of Visa’s ‘network of networks’ strategy, to become a single point of access for initiating multiple transaction types and enabling the secure movement of money.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201120005677/en/

Ruben Salazar, Head of Innovation and Products for Visa Latin America and the Caribbean; Serge Elkiner, CEO & Founder of YellowPepper; Eduardo Coello, Regional President for Visa Latin America and the Caribbean, and Alexander Sjögren, CTO of YellowPepper are pictured at the Visa Miami Innovation Center in October 2018. (Photo: Business Wire)

Ruben Salazar, Head of Innovation and Products for Visa Latin America and the Caribbean; Serge Elkiner, CEO & Founder of YellowPepper; Eduardo Coello, Regional President for Visa Latin America and the Caribbean, and Alexander Sjögren, CTO of YellowPepper are pictured at the Visa Miami Innovation Center in October 2018. (Photo: Business Wire)

With a rich set of APIs, YellowPepper’s proven brand-agnostic platform enables issuers, processors and governments to quickly and securely access multiple payment rails for many payment flows through one single connection.

“Bringing YellowPepper into the Visa family will help us build on our ‘network of networks’ strategy, by combining Visa’s proven technology, processing and security capabilities with the complementary solutions of YellowPepper, to ultimately help support the current and future needs of governments, banks and consumers around the world,” said Eduardo Coello, Regional President for Visa Latin America and the Caribbean.

The combination of both businesses should reduce issuers’ and processors’ costs and time to launch financial services. With YellowPepper, clients will be able to enable new use cases and expand Visa’s value added services, such as tokenization, identity validation, authentication and risk tools to deliver an integrated user experience. In addition, the acquisition will also facilitate an easier integration with Visa Direct, Visa’s real-time push payments platform, and Visa B2B Connect, Visa’s non-card-based cross-border B2B payment network.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device, for everyone, everywhere.  As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog and @VisaNews.

About YellowPepper

Founded in 2004, YellowPepper is Latin America's pioneer in innovative digital financial solutions. The company’s proven platform enables financial institutions to easily launch card and account agnostic real-time payments solutions, while providing value added services such as tokenization, identity validation and risk tools to deliver a complete transaction and service offering. Operating in 9 Latin American countries, the Miami-based company currently serves 50 clients and 5 million monthly active users. For more information, please visit www.yellowpepper.com.

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, statements we make regarding YellowPepper’s future success, the impact of the acquisition on Visa’s growth, and the other benefits to Visa, developers, 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, YellowPepper's maintenance of relationships with sources of data, cyber incidents, the pace and success of integration, YellowPepper’s success in international expansion, and various other factors, including those contained in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020, 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.

Real Time Payments

For “real time” payments, actual fund availability varies by receiving financial institution, receiving account type, region, and whether transaction is domestic or cross-border.

Visa
Catalina Bantula Camps
[email protected]
786-502-7305

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).