- Mastercard Inc MA and Visa Inc V, and other rivals negotiated to acquire cloud-based payment and banking platform provider Pismo.
- Pismo is working with Goldman Sachs Group, Inc GS on a sale at a valuation of $1 billion, Bloomberg reports.
- The interested parties include a bank and private equity funds.
- Also Read: Visa, Mastercard Halt Crypto Initiatives Pending Industry And Regulatory Recovery
- Pismo's investors include Softbank Group Corp SFTBF SFTBY Latin America Fund, Amazon.com Inc AMZN, Falabella Ventures, and Redpoint eventures.
- Itau Unibanco Banco Holding SA ITUB and Banco BTG Pactual are among Pismo's clients.
- Reportedly, Visa submitted a second offer to acquire Pismo last week, valuing the company at $1.4 billion.
- Pismo's platforms let banks and financial technology companies rapidly launch products for cards and payments, digital banking, digital wallets, and marketplaces.
- Price Action: MA shares closed higher by 0.85% at $354.62 on Monday.
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