The global payments technology company believes that its investment will help in speeding up innovation in payments and help in the product expansion of Conductor.
Further, the investment reinforces Visa’s existing relationship with Conductor and also the two firms’ shared vision to increase the use of digital payments in e-commerce and mobile commerce in Brazil.
Conductor, which has been backed by Riverwood Capital since 2014, serves as a technology-processing platform for retailers, banks, and other firms in Brazil. The company helps its clients in issuing various types of cards and in digitizing their payments, to enable better engagement and increased loyalty among consumers.
Visa Brazil country manager Fernando Teles said: “We are proud that Conductor marks Visa’s first investment in Brazil. Conductor’s extensive experience as a technology processing platform—with solutions that include mobile and digital payment account software—makes them an ideal partner for building a strong payments ecosystem.
“Our partnership is key for the development of new products and solutions that will shape the payments industry in Brazil.”
Visa and Conductor plan to work on developing issuer-focused solutions for tokenizing payments through mobile wallets, improve access to Visa APIs, expand the usage of push payments with Visa Direct, and push for acceptance of digital payments among small and medium businesses alongside other initiatives.
Conductor CEO Antonio Soares said: “Over the past four years, Conductor has invested aggressively in its technology platform in order to facilitate payments for different type of clients, from some of the largest issuers across financial institutions and retailers to the rapidly emerging fintech ecosystem in Brazil.
“We have grown four times in size since 2014, and are excited to welcome Visa’s strategic investment as we evolve in our next phase of growth, including our expanding digital payments ecosystem.”
In late August, Visa made an undisclosed investment in Japanese instantly-issued post-pay credit provider Paidy by taking part in the latter’s Series C funding.
Prior to that, Visa had made investments in other fintech companies like Behalf, YellowPepper, solarisBank, Marqeta, Klarna, Square and Stripe.
