The credit card giant Visa takes over the financial technology start-up for $ 5.3 billion plaid, The companies announced a corresponding agreement on Monday after the US exchange closed. plaid provides software to link digital payment apps such as Paypal Venmo or Transferwise with bank accounts.
The company was founded in 2013 and is located in the California metropolis San Francisco resident. Visa plans to complete the acquisition, which is subject to regulatory approval, in three to six months. The “Wall Street Journal“according to plaid valued at just $ 2.65 billion in a 2018 funding round. Visa was among the donors even then.
The acquisition is intended to open up new ways for the group to process payments and help to benefit from the rapid growth of digital financial services. So the PayPal boss welcomes Dan Schulman in the Visa press release the purchase of plaid: “The combination of plaids Skills with the security and size of Visa’s global network will open exciting opportunities for us to improve our products. “
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