Mastercard, Visa in talks to acquire Pismo

Mastercard and Visa are in talks to acquire Pismo, a Sao Paulo-based firm that offers cloud-based payment and banking platforms.

The company is currently working with Goldman Sachs on a sale and is being valued at around $1 billion. According to sources, a bank and private equity funds are also interested in the acquisition.

However, there is no agreement yet and the talks may still end without one. Pismo’s investors include SoftBank Latin America Fund, Amazon.com Inc., Falabella Ventures, and Redpoint eventures, and it counts Itau Unibanco Holding SA and Banco BTG Pactual among its clients.

Pismo’s platforms allow banks and fintech companies to quickly launch products for payments, digital banking, digital wallets, and marketplaces. Representatives for Pismo, Mastercard, Visa, and Goldman Sachs have declined to comment on the matter.

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