Visa Makes a Big Bet on Fintech With $5.3 Billion Plaid Acquisition

Visa (NYSE: V) said on Monday that it would acquire privately held Plaid, a leading financial technology provider, in a deal valued at $5.3 billion. Plaid's platform helps consumers securely connect their financial accounts to the apps they use, while "helping them manage their financial lives," Visa said in a press release.

The company said that the acquisition of Plaid represents both an entry into new businesses and complementary enhancements to Visa's existing business, providing new market opportunities both in the U.S. and abroad while delivering advanced payment capabilities to app developers.

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Source Fool.com