Visa has made a strategic investment in YellowPepper in an effort to push the adoption of mobile payments and tokenisation in Latin America and the Caribbean.
The investment follows a multi-year partnership established last year between the two firms and is part of a $12.5 million Series D funding round for YellowPepper.
Founded in 2004, YellowPepper helps banks and startups in six Latin American countries offer digital payment services, powering 480 million transactions a year.
Preliminary efforts of the Visa investment will focus on growing opportunities for tokenized payments, increasing access to Visa APIs, and expanding the usage of push payments via Visa Direct.
Eduardo Coello, regional president, Visa Latin America and the Caribbean, says: “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.
“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.”