Visa Acquires Payment Tech Provider Plaid For Twice Its Valuation

14 Janvier, 2020, 18:23 | Auteur: Auguste Feret
  • Visa to Buy Plaid for $5.3 Billion in Bid to Reach Startups

Visa, the number one payments technology company that is responsible for processing $3.4 trln transactions, bought Plaid for $5.3 bln, the sum that doubles the company's valuation of $2.65 bln. Plaid, whose technology lets people link their bank accounts to mobile apps like Venmo, was founded in 2013 and now connects with over 11,000 financial institutions across the United States, Canada and Europe.

The acquisition of Plaid, which provides the intermediary technology between banks and payment services like Transferwise, Acorns, and PayPal Holdings Inc.'s (NASDAQ: PYPL) Venmo, represents both Visa's "entry into new businesses" and "complementary enhancements to existing businesses", the company said in a statement. Kelly explained that Plaid's acquisition transitions Visa from connecting buyers and sellers to connecting consumers with fintech services.

The San Francisco company was already an investor in Plaid, and so is Visa's biggest competitor, Mastercard. (NYSE: MA), and Goldman Sachs Group Inc.

No More 'Wear a Tie' Resolutions for Zuckerberg
In addition to being the largest social media platform in the world, Facebook, a huge ecosystem for news and advertising, continues to react with its new advertising policy.

Marcus Stoinis slams highest-ever individual score in BBL history
Records are tumbling at the MCG, with Melbourne Stars allrounder Marcus Stoinis' blasting the highest score in BBL history. The star of the game was undoubtedly Stars' opener batsman Marcus Stoinis , who played a superb unbeaten knock of 147.

Ski: Armand Marchant a abandonné à Adelboden - Édition digitale de Bruxelles
Victor Muffat-Jeandet termine 5e, Alexis Pinturault 8e, Jean-Baptiste Grange 15e et Julien Lizeroux 25e. Le Valaisan vient de remporter (pour la deuxième fois) le slalom de Madonna di Campiglio.

Plaid's fintech-centric business opens new market opportunities for Visa both in the U.S. and internationally, while providing a gateway to building closer relationships with fintech startups. "The combination of Visa and Plaid will put us at the epicenter of the fintech world, expanding our total addressable market and accelerating our long-term revenue growth trajectory".

Plaid will continue to operate as an independent company after the deal closes. Protecting customer data and helping them share that information safely has always been a top priority for Chase.

Conseillé:



Populaire

Bencic advances as injured de Minaur out of Adelaide
The American, whose last match was a second-round ouster in Beijing on October 1, exited in 72 minutes, dropping serve four times. In men's play, Dan Evans beat Alexander Bublik 7-5, 6-2 and seventh-seeded Jan-Lennard Struff defeated Salvatore Caruso 6-4, 6-2.

AB on Proteas comeback: 'I'd love to'
Now, with the T20 World Cup in less than ten months, plans seem to be in place to facilitate his return. The right-handed batsman had announced his retirement from global cricket in 2018 owing to workload.

Oldest stuff on Earth found inside meteorite that hit Australia
To date the material, the researchers used a unique technique to measure the effects of cosmic rays hitting the grains. Last year, researchers found a new mineral from the Wedderburn meteorite that was found in Australia 70 years ago.

Canadian economy adds 35200 jobs in December
Friday's report also showed that American women held more jobs than men in December for the first time in almost a decade. That was a 21% reduction from the 2.68 million in 2018 and placed 2019 eighth in the last decade for employment growth.

Australian Ormsby secures Hong Kong Open title
Lowry made birdies at the second, fourth, ninth, 16th and 17th and dropped just one shot by three-putting from long range at the seventh.

Sania returns to match after two years, wins Hobart International tournament
After clinching the win, Sania Mirza shared an adorable picture with her son, in which she can be seen giving a high-five to him. In 2013, she retired from the individual competition after becoming the most successful tennis player in India ever.

Verified videos show plane in Iran struck before fiery crash
Chilling footage has recorded the moment the Ukraine International Airlines Flight 752 crashed outside of Tehran on Wednesday . The crash came just hours after Iran carried out missile strikes on two airbases housing United States forces in Iraq.

Bruno Fernandes: Man Utd in talks with Sporting Lisbon over midfielder
Midfielder Fernandes, 25, scored twice as Sporting beat Vitoria Setubal 3-1 in the Portuguese top flight on Saturday. They were not impressed with any of United's suggestions, which is what is holding up the deal.

Renault Chairman Says Alliance With Nissan 'Robust'
However, people within Nissan claim that his efforts to present unification have badly misread the general mood of workers. This has reportedly accelerated since Ghosn fled charges of financial misconduct in Japan late a year ago .

"Amiens, une équipe de peintres" — Christophe Galtier (Lille)
On a souffert, mais l'équipe a fait preuve de beaucoup d'abnégation, et elle a su marquer et conserver son avantage. De quoi exaspérer Christophe Galtier qui a laissé éclater sa frustration dans le vestiaire du stade Gaston-Gérard.