The U.S. Justice Department sued to block Visa’s $5.3 billion acquisition of Plaid over concerns that the deal would harm competition in the global payments market. The U.S. Justice Department sued to block Visa’s $5.3 billio

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2020-11-05 · "Plaid is planning to leverage that technology, combined with its existing relationships with banks and consumers, to facilitate transactions between consumers and merchants in competition with Visa."

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The proposed transaction was first announced on January 13, 2020. When Visa scrapped its $5.3bn bid to absorb data-sharing fintech firm Plaid last week, one European fintech, in particular, was overjoyed. A source close to Tink, the Swedish open banking platform which raised $103m in December of last year, said the company and its investors were “punching the air” when they heard the deal had fallen apart. 2020-08-01 · News story: Deal between Visa and Plaid given the go-ahead (24.8.20) Launch of merger inquiry. 29 June 2020: The CMA announced the launch of its merger inquiry by notice to the parties. Plaid is a hot fintech startup, but Visa thinks it can squeeze more out of Plaid than the company is making on its own. Visa is paying approximately 50 times Plaid’s annual revenue to acquire the company—a “very steep” sum by traditional metrics.

2021-02-17

All rights reserved. Plaid is the Best-in-Class Platform Connecting Fintech Developers, Financial Institutions and Consumers •Plaid is a financial data network that makes it easy for people to securely connect their financial accounts to the apps they use to manage their financial lives 2020-01-13 There are some obvious parallels to be drawn between Visa’s network, particularly in its earliest days, and Plaid, the fintech startup Visa acquired yesterday.

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Plaid, which helps companies connect to their users’ bank accounts through the concept of open banking, said it intends to use the capital to connect more of its business (Bloomberg) -- Visa Inc., facing a prolonged antitrust fight with the U.S. Justice Department, walked away from a proposed $5.3 billion acquisition of Plaid Inc. aimed at expanding the card Plaid Raised $425 Million After Visa Deal Falls Through If you’ve used any number of financial apps over the past few years, there’s a strong chance that you’ve encountered the name Plaid.

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2020-01-13

First, Plaid’s fintech-centric business opens new market opportunities for Visa both in the U.S. and internationally. Second, the combination of Visa and Plaid provides the opportunity to deliver enhanced Visa Acquires Plaid. On January 13, it was reported that Visa was paying more than $5.3 billion to acquire Plaid.