Visa and Mastercard reportedly in talks to acquire Pismo
Payments giants Visa and Mastercard are reportedly among a number of firms competing to acquire Brazilian payment and banking platform Pismo.
Visa and Mastercard are reportedly in talks to buy Pismo
News reports state that the firm is working with Goldman Sachs on a potential sale at a reported valuation of $1 billion. Sources tell Bloomberg that other interested parties include a bank and a private equity firm, and that the talks may not result in a sale.
According to Valor Economico’s Pipeline, Visa submitted an initial offer of $1 billion which was rejected by Pismo, following which Visa upped its bid to $1.4 billion.
On reaching out, Pismo tells FinTech Futures that it “does not comment on market rumours”.
Founded in 2016 and based in São Paulo, Pismo offers a cloud-native platform for payment and banking services, including digital banking, core banking, cloud computing, card-issuing and digital wallets.
In October 2021, the firm raised $108 million in a Series B funding round from Amazon, SoftBank and Accel in a bid to expand its operations across Asia.
