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Visa Signs YellowPepper To Help Spur Mobile Payments in Latin America And Caribbean
July 14, 2017

By John Stewart
@DTPaymentNews

Efforts by major payments companies to open their technology to outside collaborators are starting to bear fruit in extending mobile payments to new international markets. Visa Inc. on Friday announced one of the latest developers to take advantage of its application programming interfaces is YellowPepper, a 13-year-old, Miami-based firm that Visa is counting on to help spur digital-payments adoption in Latin America and the Caribbean.

YellowPepper already operates in nine Latin American countries, serving more than 6.5 million active mobile users who generate 380 million transactions annually at more than 400,000 merchants, according to information from Visa.

In what Visa says is a “first-of-its-kind” arrangement for the payments network in the Latin American and Caribbean market, YellowPepper will assist Visa issuers, acquirers, and merchants with project management, design of user experiences, and development and delivery of mobile applications.

The company will rely on Visa APIs, including Visa Token Service, Visa Checkout, and Visa Direct, a money-transfer app. Visa early last year announced Visa Developer, an ambitious program that opened 155 APIs to outside developers. The program is part of a trend among payments companies to grant access to outsiders in an effort to spur innovation and adoption in digital payments.

As part of the collaboration, Visa has also certified YellowPepper as a Visa token-service provider. As a TSP, the firm will have access to tokens that mask actual card credentials, protecting the information from data thieves.

“This partnership will enable us to deliver a truly powerful digital experience that is secure, fast, and most importantly, convenient to consumers and businesses in Latin America and the Caribbean,” said Serge Elkiner, founder and chief executive of YellowPepper, in a statement.

For the near future, Visa is clearly looking to such collaborations to boost adoption of mobile and other digital payments technologies. “As the payments industry shifts from plastic to digital, it becomes increasingly important to collaborate with fintechs to deliver new user experiences,” said Allen Cueli, senior director of product solutions and new payment enablers for Visa’s Latin America and Caribbean region, in a statement. “YellowPepper has the skill set and existing footprint in the region to help us accelerate time to market for our clients and penetrate new use cases and segments.”


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