Visa has announced the completion of its acquisition of YellowPepper, a fintech specialist with proprietary technology and partnerships supporting leading financial institutions and startups in Latin America and the Caribbean.
The acquisition marks a unique move for the firm, as it 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.
Eduardo Coello, Regional President for Visa Latin America and the Caribbean, commented: “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.”
The combination of both businesses seeks to 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 tokenisation, 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.