Visa has struck a deal to buy Argentinian payments firms Prisma Medios de Pago and Newpay from private equity giant Advent International. Financial terms were not disclosed.
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Prisma provides credit, debit and prepaid card issuer processing while Newpay is a multi-network infrastructure provider that operates real-time payments services, the Banelco ATM network and the bill payment platform PagoMisCuentas.
Advent bought a 51% stake in Prisma from Visa International and a consortium of local banks in 2019 in a deal valuing the company at $1.42 billion.
Now Visa is taking the business back, saying that the combined technology platforms of Prisma and Newpay, together with the US giant’s global network and value-added services, will accelerate the deployment of tokenisation, biometric authentication, intelligent risk tools and agentic commerce tech in Argentina.
Ryan McInerney, CEO, Visa, says: “This acquisition is an important step for Visa in Argentina, strengthening our client partnerships and advancing innovation across the payments ecosystem.
“By bringing together Prisma’s and Newpay’s deep local expertise with Visa’s global solutions and technology, we will empower our clients to make payments simpler, faster, and more secure for consumers and businesses.”