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Fintech Pismo officially acquired by Visa for US$1000M in Brazil

December 5, 2023
Por
Rikardy Tooge
Rikardy Tooge
Repórter do IM Business
📷
LinkedIn
The acquisition was announced at the end of June this year and had been under review by the antitrust agency since mid-August.
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About the acquisition

The General Superintendence of the Administrative Council for Economic Defence (Cade) has approved without restrictions the purchase of fintech Pismo by American Visa, in a US$ 1 billion deal announced at the end of June this year.

In an order published on the 1st of this month, Cade's general superintendent, Alexandre Barreto, accepted Visa's arguments that the transaction would not affect competition, since the assets would be complementary. The case had been before the council since the end of August.

"Pismo offers integration/connectivity services that allow financial institutions and payment institutions to operate in the payment arrangements with which they have transactions. Pismo's solutions enable processing in payment arrangements such as Visa and Mastercard," defended Vista in a letter sent to Cade.

During the process of analysing the transaction, the antitrust agency gathered opinions from other market players, such as BTG Pactual, Banco do Brasil, Elo, CSU Digital, Bradesco, Santander and Mastercard.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

About the acquisition

The General Superintendence of the Administrative Council for Economic Defence (Cade) has approved without restrictions the purchase of fintech Pismo by American Visa, in a US$ 1 billion deal announced at the end of June this year.

In an order published on the 1st of this month, Cade's general superintendent, Alexandre Barreto, accepted Visa's arguments that the transaction would not affect competition, since the assets would be complementary. The case had been before the council since the end of August.

"Pismo offers integration/connectivity services that allow financial institutions and payment institutions to operate in the payment arrangements with which they have transactions. Pismo's solutions enable processing in payment arrangements such as Visa and Mastercard," defended Vista in a letter sent to Cade.

During the process of analysing the transaction, the antitrust agency gathered opinions from other market players, such as BTG Pactual, Banco do Brasil, Elo, CSU Digital, Bradesco, Santander and Mastercard.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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Segmento:
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País de origen:
Headquarters:
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Monto inversión:
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