Visa to buy Swedish fintech Tink for $2.2 billion
The Hindu
The deal is part of Visa's push to diversify revenues beyond credit card payments, where it is one of the world's dominant players. Card companies have been facing increased pressure from regulators on fees, especially in Europe.
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Visa Inc said on Thursday it had agreed a 1.8 billion euro ($2.2 billion) takeover of European open banking platform Tink, months after it ditched a planned acquisition of the startup's U.S. rival Plaid. Founded in 2012, Sweden-based Tink enables banks and other financial firms to share and access consumer financial data more easily. It is used by more than 3,400 banks and other institutions, as well as over 250 million customers in Europe.More Related News