Visa has signed a definitive agreement to acquire a European open banking platform Tink for approximately $2.1 billion. The transaction will build tailored financial management tools, products and services for European consumers and businesses.
- Tink is integrated with more than 3,400 banks and financial institutions, reaching millions of bank customers across Europe.
- The combination of Visas proven infrastructure and sustained investment in resilience, cybersecurity and fraud prevention with Tinks APIs, technology and customer relationships is expected to help accelerate the adoption of open banking in Europe by ensuring a secure, reliable platform for innovation.
The major partnerships and deals by Visa are mentioned below:
June 2021: Visa announced a global strategic partnership with Goldman Sachs Transaction Banking to help businesses large to small move money effortlessly around the world. Through its implementation of Visa B2B Connect and Visa Direct Payouts solutions, Goldman Sachs will help its commercial and corporate banking clients simplify complexities and costs associated with existing systems and inefficient processes.
April 2021: Visa, the worlds leader in digital payments, and Airbnb, a leading online marketplace for lodging and experiences, announced Airbnb Hosts in select markets will be able to access their earnings more quickly. Through Airbnbs use of Visa Direct, Visas real-time push payments platform, Hosts will have an option to move money from Airbnb to a bank account associated with an eligible Visa debit card.
Nov 2020: Visa announced that it had completed the acquisition of YellowPepper, a fintech pioneer with proprietary technology and partnerships supporting leading financial institutions and startups in Latin America and the Caribbean. The acquisition, which is the first of its kind for Visa in the region, accelerates the adoption of Visas network of networks strategy, to become a single point of access for initiating multiple transaction types and enabling the secure movement of money.
Nov 2020: Visa Inc. issued the statement regarding its planned acquisition of Plaid. Plaid is a data network that enables individuals to connect their financial accounts to the apps and services they use to manage their financial lives, and its capabilities complement Visas. Together, Visa and Plaid will deliver better digital experiences and more choice for consumers in managing their money and financial data.
Sep 2020: Visa Inc. and PayPal announced global partnership, to expand real-time access to funds for consumers and small businesses that are sending or receiving money via PayPal, Venmo or Xoom. This collaboration expands PayPals Instant Transfer service, which leverages Visa Direct for real-time1 payment capabilities, to global markets and enables fast domestic and cross-border digital payments.
About Visa Inc.
Visa Inc. headquartered in California, United States, is a global leader in digital payments. The company provides Visa cards and other payment products to global customers. Visa connects consumers, businesses, banks and governments in more than 200 countries and territories worldwide. The companys advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second.