Global payments technology company Visa Inc. has announced it has acquired an aggregator for fintech services called Plaid for $5.3 billion dollars.
According to the official press release, the parties plan to close the deal in the next three to six months after approval by the regulators.
Founded back in 2013, Plaid links fintech-related services to users' bank accounts. Plaid collaborates with 11,000 financial institutions in the USA, Canada, and Europe and has connected more than 20 million accounts.
Visa CEO Al Kelly says the company is extremely excited about its acquisition of Plaid and how it enhances the growth trajectory of the Visa's business.
"The acquisition, combined with our many fintech efforts already underway, will position Visa to deliver even more value for developers, financial institutions and consumers," he added.
Plaid has also been known as a key partner for Coinbase, Gemini, Robinhood, and other crypto-focused companies.
Previously iHodl reported that cryptocurrency exchange Binance added the possibility of buying cryptos via Visa cards.
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