Ruben Salazar, Senior Vice President Products & Innovation Visa Latin America & Caribbean; Serge Elkiner, Co-founder & CEO of YellowPepper; Eduardo Coello, Regional President Visa Latin America & Caribbean & Alexander Sjögren, Chief Technology Officer of YellowPepper.
Miami – May 24 – Visa (NYSE: V) today announced a strategic investment in YellowPepper, a mobile payments pioneer in Latin America, to help accelerate innovation in digital payment technology. The first of its kind for Visa in the region, the strategic investment reinforces a shared vision for increasing usage of mobile payments throughout Latin American and the Caribbean. Visa and YellowPepper initially established a multi-year partnership in 2017.
In addition to our investment, we are expanding our partnership and preliminary efforts of this agreement will focus on growing opportunities for tokenized payments, increasing access to Visa APIs, and expanding the usage of push payments via Visa Direct.
"Through our investment in YellowPepper, we want to bring the best of Visa’s technology and capabilities to a broader set of partners and clients across the region," said Eduardo Coello, regional president for Visa Latin America and the Caribbean. "Visa is always looking for new investments that allow us to accelerate innovation for our clients, finding new ways to support our clients’ technology. YellowPepper’s extensive experience in the region and the strength of their existing client base makes them an ideal partner to build the future of payments.”
As a certified Visa Token Service Provider, YellowPepper offers Visa’s secure, digital payment token services, ensuring that regardless of form factor, nearly any Internet-connected device can become a more secure place for commerce.
“We have been a go-to service for major financial institutions and retailers for years and now are expanding our secure and efficient technology to build out a robust ecosystem within Latin America and the Caribbean to make interacting with, managing and accepting cashless payments as easy as possible,” said Serge Elkiner, Co-Founder and Chief Executive Officer at YellowPepper.
Visa’s investment in YellowPepper is part of a global strategy to open up the Visa ecosystem and support a broad range of new partners who are helping to redefine and enhance the purchase experience for millions of consumers globally. This is the most recent partnership and investment for Visa with an emerging innovator within the payments ecosystem. As a global payments technology company, Visa continually evaluates platforms and technologies of all kinds – especially those that have the potential to advance digital payments for Visa’s clients and their customers. Previously, Visa has made investments in solarisBank, Marqeta, Chain, Klarna, Square and Stripe, among others.
About Visa Inc.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visa, visa.com/blog, @VisaNews and @VisaNewsLatam.
Founded in 2004, YellowPepper is the fintech pioneer in Latin America with proprietary technology and partnerships with leading financial institutions and industry startups. YellowPepper provides a digital finance platform that gives consumers, merchants, issuers and processors the means to revolutionize the purchasing experience. Operating in six Latin American countries the Miami-based company currently enables over 6.6 million monthly active users that execute 480 million transactions yearly, while connecting them with more than 400,000 merchants. For more information, please visit www.yellowpepper.com.