Visa has agreed to buy Plaid, a network that makes it easy for people to securely connect their financial accounts to the apps they use, for $5.3 billion.
- “Plaid’s products enable consumers to conveniently share their financial information with thousands of apps and services such as Acorns, Betterment, Chime, Transferwise and Venmo”
- Visa to fund deal with cash and debt
- To have no impact on Visa’s previously announced stock buyback program or dividend policy
- Deal expected to close in the next three to six months
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