Visa agrees to buy TINK for open banking services for about two billion dollars

0
9


Visa, the global electronic payment and credit card company, has agreed to buy the Swedish open banking platform Tink AB, as Visa looks to expand beyond its card network.And the “Bloomberg” news agency reported that San Francisco-based Visa announced in a statement Thursday that it will pay a total of 1.8 billion euros ($2.15 billion) – including cash incentives and permission to retain employees – to acquire the financial technology company. .

Banks and startups use TINK to access the financial data of consumers. The Stockholm startup was founded in 2012 and has around 400 employees, with technology connecting more than 3,400 banks reaching more than 250 million banking customers across Europe.

“This acquisition is a sign of our commitment to Europe,” Charlotte Hogg, CEO of Visa Europe, said in the statement. “We have found in TINK a strong partner with whom we can accelerate innovation in open banking.”







LEAVE A REPLY

Please enter your comment!
Please enter your name here