Visa has made a strategic investment in Latin America-based mobile payments company YellowPepper to support adoption of these payments and tokenisation across the region as well as in the Caribbean.

Initially, the partners will work on boosting opportunities for tokenised payments, while improving access to Visa APIs and push payments use through Visa Direct.

YellowPepper originally signed a multi-year alliance with Visa last year. The company provides Visa’s digital payment token services to enable secure commerce via internet-connected devices.

YellowPepper co-founder and CEO Serge Elkiner said: “We have been a go-to service for major financial institutions and retailers for years and now are expanding our secure and efficient technology to build out a robust ecosystem within Latin America and the Caribbean to make interacting with, managing and accepting cashless payments as easy as possible.”

The investment is in line with Visa’s strategy to extend its ecosystem and support the fintech community.

Visa Latin America and the Caribbean regional president Eduardo Coello said: “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.

“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.”