Visa invests $4m in Phi Commerce for APAC expansion

By Milan Rojan

Visa has invested $4 million in Pune-based payment aggregator Phi Commerce for a 2.5% stake, as it has sought to expand its payments technology footprint across APAC.

The investment has reportedly been made as Visa has sought to strengthen its relationships with banks and expand its issuing and acquiring technology capabilities globally. Under the arrangement, Visa is expected to leverage Phi Commerce’s payment technology stack, with an initial focus on the Asia-Pacific region, including Southeast Asia.

The deal has come as payment networks have faced increasing competition from domestic schemes and alternative payment systems across several markets. Phi Commerce has been pursuing international expansion through strategic partnerships, allowing local financial institutions to provide market access, regulatory licences and established relationships while the company supplies its payments technology.

In April 2025, Phi Commerce raised $5 million from Japanese payments technology company Digital Garage and entered a strategic partnership with its payments arm, DG Financial Technology, to introduce its technology in Japan and other regional markets. The company also raised $6 million from existing investor Beenext Ventures in May 2025.

Founded in 2015, Phi Commerce has developed an omnichannel payments platform supporting digital transactions across online, mobile, in-store and remote channels. The company has raised approximately $24 million to date following its latest reported investment.

Phi Commerce has reported operating revenue of approximately $12.0 million in FY2025, up from about $9.8 million in FY2024, while its net loss has narrowed to around $1.8 million from $3.5 million.