Pismo Expands in India, Eyes 30 Markets by End of Year

Visa-owned Pismo has expanded its presence in India by launching its core banking and card processing platform with eight financial institutions. The company plans to expand further in the country, which is one of its priority markets for FY27.

Pismo's senior vice-president and general manager, Leonardo Collado, said that India is an important market for them and they are thinking differently about how to bring this kind of platform here.

The company's technology allows financial institutions to issue and process cards across various schemes, including Visa, Mastercard, and RuPay. In fact, a majority of transactions processed on Pismo globally are not Visa transactions, Collado said.

Pismo is exploring use cases such as credit lines on Unified Payments Interface (UPI) for banks, leveraging its lending capabilities. The company's core banking capabilities offer an opportunity in India as payment infrastructure scales with expanding UPI adoption.