Pismo, a cloud-based payment and banking platform provider, has attracted the attention of several major players in the financial industry. According to sources familiar with the matter, both Mastercard Inc (NYSE: MA) and Visa Inc (NYSE: V) have entered negotiations to acquire the fintech unicorn startup.
Pismo has gained popularity among consumers for its user-friendly interface that allows customers to manage their finances digitally. The company's technology also enables businesses to easily integrate payments into their operations through APIs.
As digital payments continue to grow in popularity worldwide, companies like Mastercard and Visa are looking for ways to expand their offerings beyond traditional credit and debit cards. Acquiring Pismo would allow either company to integrate cutting-edge payment technology into its existing network, potentially giving them an edge over competitors.
While representatives from both Mastercard and Visa declined comment on any potential acquisition plans related to Pismo or other companies, anonymous sources suggest that other interested parties include PayPal Holdings Inc (NASDAQ: PYPL), Square Inc (NYSE: SQ), Stripe Inc., as well as unnamed private equity firms.
Despite being relatively unknown outside of fintech circles, Pismo has achieved unicorn status after just six years since its founding in 2015. Sources say that the company is valued at around $1 billion based on recent funding rounds.
While it remains unclear if any deal will ultimately be made between Pismo and one of these suitors or if negotiations will lead anywhere serious at all; it is clear that many major players see potential in this up-and-coming fintech startup.