Visa completes acquisition of Pismo – a global cloud-native issuer processing and core banking platform

„With the transaction complete, the combination of Visa and Pismo will provide clients with core banking and card-issuer processing capabilities across all product types via cloud native APIs. Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment schemes and RTP networks for financial institution clients.” according to the press release.

“Core banking and issuer processor capabilities are key offerings for many of our financial institution and fintech partners’ clients,” said Jack Forestell – Chief Product and Strategy Officer at Visa. “With the combination of Visa and Pismo, we can now broaden these offerings and better serve the ecosystem.”

“The combination of Visa and Pismo will enable our clients to launch innovative payments and banking products within a single cloud-native platform regardless of network, geography, or currency. The closing marks a new era for banking and payments,” said Ricardo Josua – Co-Founder and CEO, Pismo.

Pismo will retain its current management team led by Ricardo Josua.

Visa announced in June 2023 that it has signed a definitive agreement to acquire Pismo, a cloud-native issuer processing and core banking platform with operations in Latin America, Asia Pacific and Europe, for $1 billion in cash.

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Pismo is a technology company providing an all-in-one processing platform for banking, payments, and financial markets infrastructure. Large banks, marketplaces, and fintech companies use our cloud-native microservices platform to launch next-generation solutions and move from legacy systems to the most advanced technology in the market. The Pismo cloud-based platform empowers firms to build and launch financial products rapidly, scaling as they grow to have a broader audience while keeping high security and availability standards.