Visa Taps Veteran Leonardo Collado to Lead Pismo's Global Growth

Group 1: Leadership Changes - Visa has appointed Leonardo J. Collado as the new general manager of Pismo, effective April 1, succeeding Vishal Dalal, who is leaving to pursue an entrepreneurial opportunity [2][3] - Collado brings 25 years of payments industry experience and regional expertise, which Visa believes will be instrumental for Pismo's growth [5] Group 2: Pismo's Growth and Strategic Importance - Pismo has evolved into a strategic growth platform within Visa, focusing on cloud-native solutions for banking and financial institutions [10] - Since Visa's acquisition, Pismo has expanded its operations from five countries to over 20 and has signed agreements with several global banks [13] Group 3: Acquisition Details - Visa announced its acquisition of Pismo for $1 billion in cash in June 2023, completing the deal in January 2024 [11][12] - The acquisition aims to enhance Visa's capabilities in core banking and card-issuer processing through cloud-native APIs, supporting emerging payment methods and real-time payment networks [12]