Visa reported that the acquisition is considered the first of its kind for the company in the region and helps with 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.
YellowPepper was established in 2014 and is operational in nine different LATAM nations. The company now serves around 50 clients and claims approximately five million monthly active users. The acquisition comes two years after Visa took part in YellowPepper’s USD 12.5 million Series D funding round.
With YellowPepper, Visa’s clients should be able to come with new use cases and use Visa’s services such as tokenisation, identity validation, authentication, and risk tools. In addition, the acquisition is intended to 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.
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