Visa plans to expand the usage of push payments with Visa Direct, and increase the acceptance of digital payments among small and medium businesses.
Visa Inc. announced a strategic minority investment in Conductor Tecnologia, a leading digital payments processing technology platform in Brazil, to help accelerate innovation in payments and enable Conductor’s product expansion. The investment reinforces the existing partnership between Visa and Conductor, as well as the companies’ shared vision for driving adoption of digital payments across e-commerce and mobile commerce in Brazil.
Backed by Riverwood Capital since 2014, Conductor has become a key technology-processing platform for retailers, banks, and other companies in Brazil looking to issue a different type of cards and digitize their payments, resulting in better engagement and increased loyalty amongst consumers.
Investment to adopt digital payments in Brazil
Visa and Conductor’s areas of focus and product expansion plans include developing issuer-focused solutions for tokenizing payments via mobile wallets, improving access to Visa APIs, expanding the usage of push payments with Visa Direct, and increasing acceptance of digital payments among small and medium businesses, among other initiatives.
Visa’s investment in Conductor is part of a broader global strategy to open up the Visa ecosystem and support a broad range of new partners who are helping to redefine and enhance the commerce experience for millions of consumers globally. Previously, Visa has made investments in Paidy, Behalf, YellowPepper, solarisBank, Marqeta, Klarna, Square and Stripe, among others. Visa’s support of fintechs goes well beyond investments.
Antonio Soares, CEO, Conductor, stated, “Over the past four years, Conductor has invested aggressively in its technology platform in order to facilitate payments for a different type of clients, from some of the largest issuers across financial institutions and retailers to the rapidly emerging fintech ecosystem in Brazil. We have grown four times in size since 2014, and are excited to welcome Visa’s strategic investment as we evolve in our next phase of growth, including our expanding digital payments ecosystem.”
Recently, Visa announced it would expand its fast-track onboarding program to fintechs from Latin American and the Caribbean in December 2018 to provide them with the ability to more rapidly onboard to VisaNet, Visa’s global network.