This investment is a reflection of Visa’s ongoing support to the
growing fintech community in the region
MIAMI--(BUSINESS WIRE)--
Visa (NYSE: V) today announced a strategic investment in YellowPepper, a
mobile payments pioneer in Latin America, to help accelerate innovation
in digital payment technology. The first of its kind for Visa in the
region, the strategic investment reinforces a shared vision for
increasing usage of mobile payments throughout Latin American and the
Caribbean. Visa and YellowPepper initially established a multi-year
partnership in 2017.
Preliminary efforts of this investment will focus on growing
opportunities for tokenized payments, increasing access to Visa APIs,
and expanding the usage of push payments via Visa Direct.
“Through our investment in YellowPepper, we want to bring the best of
Visa’s technology and capabilities to a broader set of partners and
clients across the region,” said Eduardo Coello, regional president for
Visa Latin America and the Caribbean. “Visa is always looking for new
investments that allow us to accelerate innovation for our clients,
finding new ways to support our clients’ technology. YellowPepper’s
extensive experience in the region and the strength of their existing
client base makes them an ideal partner to build the future of payments.”
As a certified
Visa Token Service Provider, YellowPepper offers Visa’s secure,
digital payment token services, ensuring that regardless of form factor,
nearly any Internet-connected device can become a more secure place for
commerce.
“We have been a go-to service for major financial institutions and
retailers for years and now are expanding our secure and efficient
technology to build out a robust ecosystem within Latin America and the
Caribbean to make interacting with, managing and accepting cashless
payments as easy as possible,” said Serge Elkiner, co-founder and chief
executive officer at YellowPepper.
Visa’s investment in YellowPepper is part of a global strategy to
open up the Visa ecosystem and support a broad range of new partners who
are helping to redefine and enhance the purchase experience for millions
of consumers globally. As a global payments technology company, Visa
continually evaluates platforms and technologies of all kinds –
especially those that have the potential to advance digital payments for
Visa’s clients and their customers. This is the most recent partnership
and investment for Visa with an emerging innovator within the payments
ecosystem. Previously, Visa has made investments in Chain, Klarna,
Marqeta, solarisBank, Square and Stripe, among others.
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, visacorporate.tumblr.com,
@VisaNews
and @VisaNewsLatam.
About YellowPepper
Founded in 2004, YellowPepper is the fintech pioneer in Latin America
with proprietary technology and partnerships with leading financial
institutions and industry startups. YellowPepper provides a digital
finance platform that gives consumers, merchants, issuers and processors
the means to revolutionize the purchasing experience. Operating in six
Latin American countries the Miami-based company currently enables over
6.6 million monthly active users that execute 480 million transactions
yearly, while connecting them with more than 400,000 merchants. For more
information, please visit www.yellowpepper.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180524005288/en/
Source: Visa Inc.