Banking Law News

Visa to Buy Plaid for $5.3 Billion

Jan. 13, 2020, 9:35 PM

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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