Why Visa Stock Is Rising Today

Visa Inc. V shares are rising Thursday after the company announced the acquisition of Pismo on Wednesday.

What To Know: The acquisition of Pismo will strategically position Visa to offer clients core banking and issuer processing capabilities across debit, prepaid, credit, and commercial cards by leveraging cloud-native APIs.

Furthermore, Pismo's platform will allow Visa to provide support and connectivity for emerging payment networks, such as Pix in Brazil, catering to the specific requirements of financial institution clients.

"Through the acquisition of Pismo, Visa can better serve our financial institution and fintech clients with more differentiated core banking and issuer solutions they can offer their customers," said Jack Forestell, Chief Product and Strategy Officer, Visa.

The transaction is expected to close by the end of 2023.

Related Link: AstraZeneca's Imfinzi/Imjudo Combo Shows Sustained Overall Survival Benefit At Four Years In Liver Cancer

V Price Action: Shares of V were up 2.66% at $234.03 at the time of publication, according to Benzinga Pro.

Image by falco from Pixabay