Visa Makes Strategic Investment in YellowPepper to Accelerate Adoption of Mobile Payments & Tokenization in Latin America & t...
May 24 2018 - 8:00AM
Business Wire
This investment is a reflection of Visa’s
ongoing support to the growing fintech community in the region
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20180524005288/en/
Visa Inc.Kryssa Guntrum, 415-805-4488kguntrum@visa.comorVisa
Latin America & CaribbeanCatalina Bantula Camps,
305-328-1268cbantula@visa.com
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