The General Superintendence of the Administrative Council for Economic Defence (Cade) has approved without restrictions the purchase of fintech Pismo by American Visa, in a US$ 1 billion deal announced at the end of June this year.
In an order published on the 1st of this month, Cade's general superintendent, Alexandre Barreto, accepted Visa's arguments that the transaction would not affect competition, since the assets would be complementary. The case had been before the council since the end of August.
"Pismo offers integration/connectivity services that allow financial institutions and payment institutions to operate in the payment arrangements with which they have transactions. Pismo's solutions enable processing in payment arrangements such as Visa and Mastercard," defended Vista in a letter sent to Cade.
During the process of analysing the transaction, the antitrust agency gathered opinions from other market players, such as BTG Pactual, Banco do Brasil, Elo, CSU Digital, Bradesco, Santander and Mastercard.
The General Superintendence of the Administrative Council for Economic Defence (Cade) has approved without restrictions the purchase of fintech Pismo by American Visa, in a US$ 1 billion deal announced at the end of June this year.
In an order published on the 1st of this month, Cade's general superintendent, Alexandre Barreto, accepted Visa's arguments that the transaction would not affect competition, since the assets would be complementary. The case had been before the council since the end of August.
"Pismo offers integration/connectivity services that allow financial institutions and payment institutions to operate in the payment arrangements with which they have transactions. Pismo's solutions enable processing in payment arrangements such as Visa and Mastercard," defended Vista in a letter sent to Cade.
During the process of analysing the transaction, the antitrust agency gathered opinions from other market players, such as BTG Pactual, Banco do Brasil, Elo, CSU Digital, Bradesco, Santander and Mastercard.