Visa has achieved a significant milestone with the successful completion of its acquisition of Pismo, a global cloud-native issuer processing and core banking platform. This strategic move positions Visa to provide clients with comprehensive core banking and card-issuer processing capabilities across all product types through cloud-native APIs.

With the transaction finalized, the collaboration between Visa and Pismo is poised to redefine the landscape of financial services. The integration of Visa’s global influence and Pismo’s cutting-edge platform will empower clients with enhanced core banking and issuer processing capabilities, fostering innovation and flexibility in launching new payment and banking products.

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

The synergy between Visa and Pismo extends beyond traditional banking services. Pismo’s cloud-native platform will play a pivotal role in enabling Visa to offer robust support and connectivity for emerging payment schemes and Real-Time Payments (RTP) networks. This positions Visa to be at the forefront of the evolving financial landscape, ensuring adaptability to new payment methods and technologies.

Ricardo Josua, Co-Founder and CEO of Pismo, expressed excitement about the prospects of this collaboration, stating, “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.”

As part of the acquisition, Pismo will continue to operate with its current management team at the helm, led by CEO Ricardo Josua. This approach ensures a seamless transition and builds on the strengths and expertise that have contributed to Pismo’s success.

The acquisition marks a strategic move by Visa to strengthen its position in the dynamic landscape of digital banking and financial services. The combination of Visa’s global reach and Pismo’s advanced cloud-native platform is expected to fuel innovation, streamline processes, and provide clients with a comprehensive suite of solutions.

As the financial industry continues to evolve, Visa’s acquisition of Pismo stands as a testament to its commitment to staying at the forefront of technological advancements and meeting the evolving needs of financial institutions and fintech partners. This collaboration is set to unlock new possibilities in cloud-native banking solutions, ushering in a new era for banking and payments on a global scale.