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Visa Expands in Argentina with Prisma Deal

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Visa has announced plans to acquire payment platforms Prisma and Newpay from private equity firm Advent International, strengthening its presence in Argentina’s financial technology sector.

The acquisition will integrate Visa’s global network with established local infrastructure, supporting broader adoption of digital payment solutions across the country.

Visa indicated that the move would accelerate the rollout of technologies such as tokenization, biometric verification and advanced risk management tools for both consumers and businesses.

Prisma is one of Argentina’s largest card issuing platforms, processing billions of transactions annually for major banks. Newpay complements this ecosystem by providing payment infrastructure, ATM services and electronic bill payment systems.

The transaction is expected to be completed in early 2026, though financial terms have not been disclosed.

The development reflects ongoing efforts to modernize payment systems and expand digital finance capabilities in Argentina.

Revolut to launch India payments platform, targeting 20 million users by 2030

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Revolut, the London-based digital finance company, will launch its first payments platform in India, marking its entry into one of the world’s largest digital finance markets. The rollout will begin later this year with 350,000 waitlisted users, before expanding nationwide.

The platform will allow users to make domestic and international transactions through partnerships with Visa and India’s Unified Payments Interface (UPI). The fintech firm, valued among Europe’s largest, sees India as a central pillar of its global expansion strategy.

Revolut India CEO Paroma Chatterjee said the company will offer prepaid cards and a digital wallet, using a payments license granted by the Reserve Bank of India earlier this year. It also holds authorization to provide foreign exchange services.

The company has invested over £40 million ($53.7 million) to localize its technology and comply with India’s data sovereignty regulations — its only market with such a setup. Revolut aims to onboard 20 million customers by 2030, targeting the country’s rapidly growing “aspirational youth” demographic.

The India launch follows Revolut’s push into banking and credit card services in other major markets, including the U.S. and Europe, as it seeks to become a global payments leader.

EU finance ministers agree on roadmap for digital euro launch

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European Union finance ministers reached a compromise agreement on Friday outlining the roadmap for a digital euro, a central bank–backed electronic currency designed to reduce Europe’s reliance on U.S.-dominated payment systems like Visa and Mastercard.

At a meeting in Copenhagen with ECB President Christine Lagarde and European Commissioner Valdis Dombrovskis, ministers agreed that before the European Central Bank makes a final decision on issuance, the Council of Ministers will have the right to weigh in, including on the crucial issue of holding limits—caps on how many digital euros individuals can store to prevent destabilizing bank deposits.

“The compromise that we reached is that before the ECB makes a final decision in relation to issuance… there would be an opportunity for a discussion in the Council of Ministers,” said Paschal Donohoe, chair of the finance ministers’ group.

The ECB has pitched the digital euro as both a strategic sovereignty project and a response to the rise of U.S. stablecoins promoted under President Trump’s administration. Lagarde framed it as “not just a means of payment, but also a political statement” about Europe’s ability to control its own cross-border financial infrastructure.

Still, the project faces hurdles. Legislation proposed in June 2023 has yet to be approved by the European Parliament or the European Council, with critics warning about costs, privacy concerns, and risks to bank funding. The Council aims to conclude its work by year-end, while the ECB hopes legislation will be finalized by June 2025. If approved, the digital euro could launch within three years.

For now, the compromise marks a step forward for a project that could reshape Europe’s financial system and reduce dependence on non-EU providers.