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Visa Acquires Tink

Following a halt in plans for a $5.3 billion merger agreement with financial technology service provide Plaid, Visa, the Californian based multinational would be stretching itself as it buys Tink an opening banking platform for a whopping sum of 1.8 billion euro ($2.15 billion).

The combination of Visa’s proven infrastructure and sustained investment in resilience, cybersecurity, and fraud prevention with Tink’s 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. As a result, consumers can better control their financial experiences, including managing their money, financial data, and financial goals. At the same time, businesses large and small will have a greater and more customized range of tools to operate digitally.