Visa has made an undisclosed strategic minority investment into Brazilian payments processor Conductor.
This investment reinforces and existing partnership between the two companies, and will support innovation of Conductor’s payments solutions and expand its product offering. The investment into Conductor marks Visa’s first into Brazil.
Conductor is a payment processing solution which serves more than 100 clients and 69 million end customer payment accounts, according to the company. The company’s processing services support pure and hybrid brand names, open private cards, benefit cards, prepaid cards and gift cards, electronic freight payments, and fleet management, among others.
Some of the growth areas the companies will focus on together include building solutions to tokenise payments through mobile wallets. Other plans include improving access to Visa APIs, expanding the usage of push payments with Visa Direct, and increasing acceptance of digital payments among SMEs.
Visa Latin America & Caribbean senior vice president Ruben Salazar said, “Through our investment in Conductor, we are reinforcing our commitment to significantly invest in attractive FinTechs and key digital enablers from Latin America and the Caribbean, given the thriving community we are seeing throughout the region.
“We believe Conductor’s merchant and bank relationships will allow them to develop payment solutions for underserved consumers in Brazil and across Latin America, and we are excited to work together on these initiatives.”
Last month, Visa made a contribution to the $8m Series A round of Nigerian payments platform Paystack.
Paystack develops payment APIs which enable businesses to build custom payment solutions. Its services enable the creation of custom checkout experiences, automated recurring billing systems, and the ability to send bulk transfers to any bank account in Nigeria, among other services.
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