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The release reads:
VISA AND YELLOWPEPPER PARTNER TO ACCELERATE NEW PAYMENT SOLUTIONS IN LATIN AMERICA AND THE CARIBBEAN
YellowPepper will help financial institutions in the region to implement new payment experiences for their clients
Visa Inc. (NYSE:V) today announced a partnership agreement with YellowPepper, a mobile payments pioneer in Latin America, to help accelerate the adoption of new payment solutions in Latin America and the Caribbean (LAC). As part of the partnership, the first of its kind in the region, YellowPepper will help Visa issuers, acquirers and merchants to implement solutions to deliver new payment customer experiences. Specifically, YellowPepper will aid with the implementation of particular solutions, including project management services, UX design and services for the development and delivery of mobile applications.
“As the payments industry shifts from plastic to digital, it becomes increasingly important to collaborate with fintechs to deliver new user experiences,” said Allen Cueli, senior director of product solutions and new payment enablers for Visa LAC. “YellowPepper has the skill set and existing footprint in the region to help us accelerate time to market for our clients and penetrate new use cases and segments,” he added.
“We are proud to partner with Visa to accelerate the deployments of digital payments solutions in the region,” said Serge Elkiner, founder and CEO of YellowPepper. “This partnership will enable us to deliver a truly powerful digital experience that is secure, fast and most importantly convenient to consumers and businesses in Latin America and the Caribbean.”
YellowPepper will leverage its digital payment platform along with Visa APIs such as Visa Token Service, that helps build digital payment experiences while protecting sensitive information; Visa Checkout, that makes it easier to pay online or by mobile device; and Visa Direct, that allows consumers to transfer funds seamlessly, securely and quickly.
YellowPepper is also a certified Visa token service provider. Visa’s token service provider program gives technology companies a standards-based approach and access to Visa’s broad network of tools and services, including the Visa Token Service, as well as integration, development and marketing support.
As mobile and digital payments become the norm, Visa’s goal is to ensure that all payments are simple, convenient and secure, regardless of the device that is used to pay – whether a wearable, phone, appliance or any device connected to the internet.
Founded in 2004, YellowPepper is the mobile payments pioneer in Latin America with proprietary technology and partnerships with leading financial institutions and fintechs. YellowPepper provides a payment platform that gives consumers, merchants, issuers and processors the means to revolutionize the purchasing experience. Operating in 9 Latin American countries the Miami-based company currently enables over 6.5 million monthly active users that execute 380 million transactions yearly, while connecting them with more than 400,000 merchants. For more information, please visit www.yellowpepper.com.
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead with prepaid or pay later with credit products. For more information, visit https://usa.visa.com/ and @VisaNewsLatam.