Visa has made a minority investment in Brazilian digital payment processor Conductor. The value of the investment was not disclosed.
The aim of the partnership is to facilitate Conductor product expansion plans.
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The two companies will now collaborate to develop issuer-focused solutions for payments tokenisation through mobile wallets, as well as improve access to Visa APIs.
Furthermore, the pair will work together to expand the use of push payments with Visa Direct, and foster digital payments adoption among small and medium businesses.
Visa Brazil country manager Fernando Teles said: “We are proud that Conductor marks Visa’s first investment in Brazil. Conductor’s extensive experience as a technology processing platform—with solutions that include mobile and digital payment account software—makes them an ideal partner for building a strong payments ecosystem.”
The latest alliance forms part of Visa’s broader strategy to open up its ecosystem. The firm has earlier invested in fintech firms such as Paidy, Behalf, YellowPepper, solarisBank, Marqeta, Klarna, Square and Stripe.
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By GlobalDataVisa Latin America and Caribbean senior vice president of products and innovation Ruben Salazar said: “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.”
