Dive Brief:
- Pismo, a Brazilian payments software and processing platform, has promoted Vishal Dalal to global CEO, elevating him from his role overseeing the North America, Europe and Asia operations, according to a Wednesday press release.
- The the São Paulo-based company also promoted Rodrigo Melato to chief commercial officer. He had served previously as the company’s vice president of sales since 2022, the release said.
- As Dalal steps into the top post, he will replace co-founder Ricardo Josua, who will transition into an advisory role, per the press release.
Dive Insight:
Pismo’s leadership changes come just over a year after Visa completed its acquisition of the company in January 2024. The global payment giant reportedly bought Pismo for $1 billion, TechCrunch reported in June 2023.
Visa said the acquisition would enhance its banking and card-issuing services. It also said the purchase would build up support and connectivity services for real-time payments and emerging payment schemes.
With a new owner at the helm, Pismo has positioned itself for international expansion. In a January interview, Dalal noted Visa’s “almost unlimited resources” has helped the company gain more European clients and strike up conversations with more potential customers.
In June 2023, Pismo partnered with Citigroup to service corporate demand deposit accounts, per another company press release.
Dalal, who was CEO of Pismo’s North American, European and Asian operations since 2021, brings more than 25 years of prior experience from previous roles at McKinsey, Citibank and Barclays.
In his new role, he will continue to lead the company from London and draw from his international business experience to manage the company. Melato will oversee go-to-market strategies and customer relations, the release said.
“Over the past year under Visa’s ownership, Pismo has thrived and made significant progress in our growth and strategic direction,” Josua said in a statement. “We have entered new markets, built an extensive pipeline of prospective clients, and improved the platform’s performance.”
