Visa to acquire U.S. fintech company Plaid for $ 5.3 billion-app and bank account integration service

Visa acquires Plaid, a financial service that links smartphone apps to bank accounts.Visa,Plaid]. The purchase price is 5.3 billion dollars [about 583.4 billion yen].

Finnish companies Plaid [Source: Plaid]

Finnish companies Plaid [Source: Plaid]

LaidPlaid is a company that provides smartphone apps and services with payment functions and fintech services that link users' bank accounts. Founded in 2013, headquartered in San Francisco, California.

With Plaid's service, you can securely link your bank account with apps and services such as Acorns, Betterment, Chime, Transferwise, and Venmo. Currently, a quarter of U.S. citizens with bank accounts are using Plaid, with more than 2,600 apps connected to over 11,000 financial institutions in the US, Canada and Europe.

Connecting Apps and Services to Bank Accounts [Source: Plaid]

Connecting Apps and Services to Bank Accounts [Source: Plaid]

ド ル The $ 5.3 billion acquisition will be financed by Visa through cash and bond issuance. The transaction is expected to close in three to six months.

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