SAO PAULO--(BUSINESS WIRE)--
Visa (NYSE: V) today announced a strategic minority investment in
Conductor, a leading digital payments processing technology platform in
Brazil, to help accelerate innovation in payments and enable Conductor’s
product expansion. The investment reinforces the existing partnership
between Visa and Conductor, as well as the companies’ shared vision for
driving adoption of digital payments across e-commerce and mobile
commerce in Brazil. Backed by Riverwood Capital since 2014, Conductor
has become a key technology-processing platform for retailers, banks,
and other companies in Brazil looking to issue different type of cards
and digitize their payments, resulting in better engagement and
increased loyalty amongst consumers.
Visa and Conductor’s areas of focus and product expansion plans include
developing issuer-focused solutions for tokenizing payments via mobile
wallets, improving access to Visa APIs, expanding the usage of push
payments with Visa Direct, and increasing acceptance of digital payments
among small and medium businesses, among other initiatives.
“We are proud that Conductor marks Visa’s first investment in Brazil.
Conductor’s extensive experience as a technology processing
platform—with solutions that include mobile and digital payment account
software—makes them an ideal partner for building a strong payments
ecosystem,” said Fernando Teles, country manager of Visa Brazil. “Our
partnership is key for the development of new products and solutions
that will shape the payments industry in Brazil,” he concluded.
”Over the past four years, Conductor has invested aggressively in its
technology platform in order to facilitate payments for different type
of clients, from some of the largest issuers across financial
institutions and retailers to the rapidly emerging fintech ecosystem in
Brazil. We have grown four times in size since 2014, and are excited to
welcome Visa’s strategic investment as we evolve in our next phase of
growth, including our expanding digital payments ecosystem,” said
Antonio Soares, Conductor’s CEO.
"Through our investment in Conductor, we are reinforcing our commitment
to significantly invest in attractive fintechs and key digital enablers
from Latin America and the Caribbean, given the thriving community we
are seeing throughout the region," said Ruben Salazar, Senior Vice
President of Products and Innovation for Visa Latin America & Caribbean.
"We believe Conductor’s merchant and bank relationships will allow them
to develop payment solutions for underserved consumers in Brazil and
across Latin America, and we are excited to work together on these
initiatives,” he added.
Visa’s investment in Conductor is part of a broader global strategy to
open up the Visa ecosystem and support a broad range of new partners who
are helping to redefine and enhance the commerce experience for millions
of consumers globally. Previously, Visa has made investments in Paidy,
Behalf, YellowPepper, solarisBank, Marqeta, Klarna, Square and Stripe,
among others. Visa’s support of fintechs goes well beyond investments.
Earlier this month, Visa announced it would expand its fast-track
onboarding program to fintechs from Latin American and the Caribbean in
December 2018 to provide them with the ability to more rapidly onboard
to VisaNet, Visa’s global 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 connected commerce on any device, and a driving force behind
the dream of a cashless future 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, https://usa.visa.com/visa-everywhere/blog.htmland @VisaNews.
About Conductor Tecnologia S.A.
Conductor provides digital payment solutions to manage the entire
operational cycle for issuers, fintech companies, and merchants in
Brazil. The company’s proprietary digital processing platform serves
over 100 clients and 69 million end customer payment accounts and is
connected to more than 135 thousand merchant point of sales throughout
the country. The Company has been backed by Riverwood Capital since 2014.
About Riverwood Capital
Riverwood Capital is a private equity firm that invests in high-growth,
middle-market companies primarily in the global technology,
technology-enabled, and other related industries, including businesses
in the financial services, consumer and services sectors where the use
of software, information and digital technologies, and similar fields,
can contribute to value creation. Riverwood offers a unique combination
of operational, strategic, technology, and financial insight to
portfolio companies that typically need growth capital and expertise to
scale on a global basis. The firm seeks to invest in established
businesses with a proven technology and business model, and the proper
fit in terms of culture and values, in both minority and control
situations. Riverwood has offices in Menlo Park, CA; New York, NY; and
Sao Paulo, Brazil. Please visit www.riverwoodcapital.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20181023005470/en/
Media Relations
Visa Latin America & Caribbean
Catalina
Bantula Camps
305-328-1268
cbantula@visa.com
or
Visa
Brazil
Sabrina Sciama
+55 11 2102-0021
+55 11 99930-0170
SSciama@visa.com
or
Conductor
Everton
Vasconcelos
+55 11 3817-7947
+55 11 97151-5777
everton@cdicom.com.br
or
Monica
Giacomini
+55 11 3817-7976
+55 11 98197-7470
monica@cdicom.com.br
or
Giovanna
Nichi
+55 11 3817-7943
giovanna@cdicom.com.br
Source: Visa Inc.