The fintech will be able to "boost its operations and expand the range of services available to its customers via the Visa credentials" as a result of the vendor's decision, the announcement reads.

Notably, earlier this year, Visa closed a $1 billion cash agreement to purchase Pismo, another Brazilian company.

The relocation was finished "without dependency on the previous operator and without service interruptions for cardholders," the statement continues.

We require adaptable, current, and dependable technology in order to enable the provision of the services we are developing. Founder of alt.bank Brad Liebmann says, "We found the ideal partner in Pismo." The firm was established in 2018.

He says, "We chose the microservices on Pismo's platform that made sense for our operation, and we didn't have to wait in line for developments, as we did previously."

Novücard, which was introduced in July 2022, aims to cater to the underbanked population in Brazil by providing the first dynamic credit limit assistance in the country. The credit limit dynamically rises each month based on card usage and bill repayments.

After completing the Pismo migration, the fintech says that before the end of the year, it will provide “several new product features” for the offering, some of which it says would be “novel to Brazil”.