Instant payment networks are an existential crisis for legacy debit and credit rails/networks. Have to go upmarket to value add when you can’t get interchange revenue (in this case, buying an emerging interface to Pix, Brazil’s instant payment system).
> Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients.
> Pismo’s platform will also enable Visa to provide support and connectivity for emerging payment rails, like Pix in Brazil, for financial institution clients.
https://en.wikipedia.org/wiki/Pix_(payment_system)
https://news.ycombinator.com/item?id=36012262