Home » News » Visa accounts for more than 5 billion dollars for start-up Plaid | NOW

Visa accounts for more than 5 billion dollars for start-up Plaid | NOW

Credit card company Visa has taken over start-up Plaid for 5.3 billion dollars (4.75 billion euros). This technology company links bank accounts to apps for money matters. Visa reports this in a press release (pdf).

With this takeover, Visa will follow the competitors. In recent years, MasterCard, among others, has also been deep in the bag to stay at the forefront of technology. For example, Mastercard bought a large part of the Danish payment service provider Nets last year. That cost the credit card company almost 3 billion euros.

Plaid provides, among other things, the link between bank accounts and the TransferWise and Venmo apps. Both apps are intended for mutual money shipments. A total of 200 million accounts of these apps are linked to Plaid. In addition, Plaid is already working with more than ten thousand financial institutions.

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