Visa invests in LatAm m-payments startup YellowPepper

The deal is the first of its kind for Visa and aims at increasing mobile payments in the region.

Visa led a funding round in Latin America-focused mobile payments startup YellowPepper.

The first of its kind for Visa in the region, the strategic $12.5 million Series D investment in the startup will go towards growing opportunities for tokenized payments in the region, as well as increased access to Visa APIs and further the usage of push payments via Visa Direct.

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"Through our investment in YellowPepper, we want to bring the best of Visa's technology and capabilities to a broader set of partners and clients across the region," said Eduardo Coello, regional president for Visa Latin America and the Caribbean.

"Visa is always looking for new investments that allow us to accelerate innovation for our clients, finding new ways to support our clients' technology. YellowPepper's extensive experience in the region and the strength of their existing client base makes them an ideal partner to build the future of payments," Coello added.

Visa's investment in YellowPepper is part of a global strategy to open the company's ecosystem and support a variety of new partners that seeks to "redefine and enhance the shopping experience of millions of consumers around the world." The latest capital injection brings the company's funding total to over $50 million.

Prior to YellowPepper, Visa also invested in companies such as solarisBank, Marqeta, Chain, Klarna, Square and Stripe.