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Visa Inches Forward To Serve The Growing Cashless And Digital Economy Via Plaid Acquisition

By John F. Heerdink, Jr.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Their mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive.  Their 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. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network and scale to reshape the future of commerce.

Reportedly, Visa is set to acquire privately-held software startup Plaid Inc. for $5.3B pushing itself forward in order to reach the growing financial technology space. Plaid, connected with over 11,000 financial institutions across the United States, Canada, and Europe assists people to link their bank’s accounts to apps like Venmo, Acorns, and Chime. The acquisition will help Visa expand its business and reach.

“Plaid is a leader in the fast-growing fintech world. The acquisition, combined with our many fintech efforts already underway, will position Visa to deliver even more value for developers, financial institutions and consumers.” stated Visa Chairman and CEO Al Kelly in a statement.

Lazard served as the financial advisor for Visa and Plaid was assisted by Goldman Sachs. The transaction is expected to close in the coming months. The acquisition is believed to not impact Visa’s earlier announced stock buyback or dividend plans, as per reports.

To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V), Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Visa to pay $5.3 billion to buy fintech startup Plaid in Reuters)


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