Kani Payments and Pismo Partner on Data Reconciliation, Reporting Platform

Kani Payments, a global data reconciliation and reporting platform, has formed a strategic partnership with Pismo, an issuer processing and core banking platform.

This partnership extends the reach of Kani’s software-as-a-service (SaaS) platform to Pismo’s client base, including large banks, marketplaces and FinTechs, the companies said in a Wednesday (Feb. 21) press release emailed to PYMNTS.

Pismo, established in Brazil in 2016, has rapidly expanded across Latin America, North America, Europe and Asia-Pacific, according to the release. With clients such as Brazilian banking giants Itaú and BTG, Pismo processes over $208 billion in transactions annually across 97 million accounts and over 53 million issued cards worldwide.

In January, Pismo was acquired by Visa in a $1 billion deal, showcasing the potential for further expansion in core banking and issuer processing capabilities, the release said. This acquisition was announced in June 2023 and completed in January.

The partnership with Pismo allows Kani Payments to offer its SaaS platform to a wider market, enabling clients to benefit from simplified reporting and actionable business intelligence insights, per the release.

Kani’s platform is designed to help companies achieve compliance with industry and regulatory requirements by automating complex data reconciliation and reporting processes, according to the release.

Aaron Holmes, founder and CEO of Kani Payments, said in the release that the scalability of Kani as a FinTech company and its alignment with Pismo’s global presence makes this a valuable partnership.

Vishal Dalal, CEO (North America, EMEA and APAC) at Pismo, said Kani’s platform will help financial institutions generate reports and gain valuable insights for informed decision-making.

Kani Payments has already reconciled over 24 billion euros ($26 billion) in processed payments volume through its platform, earning recognition from industry associations and participation in prestigious accelerator programs, according to the release.

By connecting with Visa/Pismo and the application programming interfaces (APIs) the combined companies offer, banks and FinTechs can sidestep investments of time and money in their infrastructure and more fully and quickly embrace the opportunities that lie within new geographies, PYMNTS reported at the time that acquisition was announced.

Visa/Pismo offers solutions that help banks broaden their issuing and processing capabilities and gain easier onramps to emerging payment rails.