Visa to buy payment firms Prisma, Newpay to deepen Argentina footprint

Feb 19 (Reuters) - Card giant Visa said on Thursday it would buy payment platforms Prisma and Newpay from private-equity firm Advent International, bolstering its presence in Argentina.

The deal links Visa's global payments network with a scaled local platform, giving the company a stronger footing to bolster digital payments use and modernize infrastructure across Argentina.

It will fast-track the adoption of technologies such as tokenization, biometric authentication and intelligent risk tools for consumers and businesses across Argentina, Visa said.

Prisma, established in 2014 through the merger of Visa Argentina and Banelco, is one of the biggest card issuing platforms in Argentina and processes more than six billion transactions annually for the country's leading banks.

Advent bought a majority stake in Prisma Medios de Pago from a group of 14 Argentinian banks and Visa International in 2019, valuing the company at $1.42 billion.

The sale was mandated as part of then-President Mauricio Macri's effort to open up Argentina's payments industry to more competition.

Advent bought the remaining stake in Prisma in 2022. Under Advent's ownership, the company was separated into three platforms — Prisma, Newpay and Payway.

Newpay provides payments and cash access infrastructure in Argentina. It also provides electronic bill payments and is an ATM operator in the country.

The terms of Visa's deal for Prisma and Newpay were not disclosed. The deal is expected to close in the first quarter of 2026. Advent will retain the ownership of merchant acquirer Payway.

(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)