Home » Now » R$5 billion on the table: The colossal purchase of VISA from the banking giant to annihilate Mastercard in Brazil
Visa and Mastercard are two of the biggest card brands in Brazil, they compete hard in a very competitive market.
However, Visa decided to invest an extremely high amount to complete the purchase of another major rival and further intensifies the market.
This is because with the purchase of Visa, Mastercard needed to invest more in its shares so as not to end up losing customers as the competitor grew a lot.
According to information from the Startups portal, in July 2023, Visa disbursed US$1 billion (almost R$5 billion) for Pismo, a Brazilian techfin that develops banking solutions and services for digital banks and financial institutions.
According to Startups at the time, the value represents an increase of 2.5 to 3 times the valuation of the previous round, carried out by the fintech in 2022.
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According to the companies, the deal positions Visa to offer banking processing and issuance solutions for debit, prepaid, credit and business cards, using native APIs in the cloud.
Visa Cards (Photo: Reproduction / Internet)
Visa Cards (Photo: Reproduction / Internet)
Visa Cards (Photo: Reproduction / Internet)
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Additionally, Pismo will allow the multinational to offer support and connectivity for emerging payment trails, such as Pix in Brazil, to client financial institutions.
WHAT IS THE FLAG OF THE VISA CARD?
Visa is a credit card brand that competes with Mastercard. It was founded in 1958 and is accepted in more than 200 countries around the world, with more than 1 billion cards issued to date. In Brazil, it has been present for over 40 years, and is also one of users’ favorites.
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