Mastercard Inc. and Visa Inc. are reportedly among the firms in talks to buy Pismo, a provider of cloud-based payment and banking businesses, according to Bloomberg News.
Pismo, based in Sao Paulo, through its platforms, helps banks and financial technology companies to launch products for cards and payments, digital banking, digital wallets and marketplaces. The company is being valued in the talks at around $1 billion, reported Bloomberg, and those interested reportedly include a bank and private equity funds. According to Bloomberg, Valor Economico‘s website Pipeline reported Visa has submitted a second offer to acquire Pismo, valuing the company at $1.4 billion and citing people with knowledge of the matter. The company is reportedly working with Goldman Sachs Group Inc. on a sale. Pismo’s investors include SoftBank Latin America Fund, Amazon.com Inc., Falabella Ventures and Redpoint Eventures.