Why Visa Acquired YellowPepper
Visa (NYSE: V) is a well-known brand around the globe, and the company operates the largest credit and debit card network in the world. But over the years, Visa's strategy has evolved beyond payment cards. Recently, the company acquired Latin American fintech pioneer YellowPepper for an undisclosed amount.
Here's how the acquisition fits Visa's growth strategy and the company's vision for the future.
In November 2020, Visa completed its acquisition of YellowPepper, a fintech company that enables real-time payments between card, account, and blockchain networks through a set of application programming interfaces (APIs). In other words, the company provides software that makes it easy for clients to send and receive various types of payments. YellowPepper CEO Serge Elkiner has explained the company in this way: "We're a fintech helping banks keep an edge against big tech firms."
Source Fool.com
