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Visa to buy Swedish fintech Tink

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On Thursday the Visa Inc had agreed to a 1.8 billion euros deal aimed at bolstering the payment.

Plaid has since opted to go it alone as an independent company and was the last private investor.

The calls on lenders to provide third-party firms with access to coveted consumer banking data, provided they’ve got consent. Open banking has flourished in Britain and the EU thanks to the new regulation. They found that startup in 2012 connects more than 3,400 banks that reach over 250 million bank customers across Europe.

Daniel Kjellén and Fredrik Hedberg were the two founder and their main focus was to provide technology to other businesses instead.

When they got to know that they share a complete mission because of visa to connect the financial world business for growth and teaming up with Visa means that they will have better growth and Visa is the perfect partner for their future.

Visa’s acquisition of Tink is the latest in a wave of consolidation efforts in the massive payments industry. The company had tried to buy Plaid last year, but ultimately abandoned the takeover after the U.S. Department of Justice sued to block it on antitrust grounds.

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