YellowPepper's strategic investment from Visa as part of a $12.5 million Series D funding round gives the company a chance to expand beyond its focus on Latin America and into new markets such as Europe and Asia.
When Visa opened its tools to third-party developers two years ago, it was a strong pivot away from a longstanding of operating a closed, proprietary network. Its latest investments indicate this strategy is of growing importance on a global scale.
American Express is putting its involvement in the Hyperledger Project to the test, deploying blockchain technology with Boxed to enable the digital warehouse merchant to customize a rewards plan for Amex cardholders.
Traditional credit scoring is under siege from alternative underwriting, and TransUnion is joining the future by investing in other emerging trends such as mobile device security and health care payments.
Blockchain's potential for revolutionizing the world’s payment systems has captured the imagination in recent years, and last month Santander became the U.K.'s first bank to use the technology to create a new international payments service.
Fintechs attending Consensus 2018, the annual cryptocurrency event, said they found promise for a market still trying to find a path to unified operations and wider acceptance within financial services.