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Visa to buy Swedish fintech start-up Tink

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Visa Inc. credit and debit cards are arranged for a photograph in Washington, D.C., U.S., on Monday, April 22, 2019.

Andrew Harrer | Bloomberg | Getty Images

LONDON — Visa agreed Thursday to acquire Swedish financial technology start-up Tink for 1.8 billion euros ($2.1 billion), in a deal aimed at bolstering the payment giant’s digital ambitions.

The deal comes after Visa’s bid to buy Plaid, an American rival to Tink, was torpedoed by U.S. regulators. Plaid has since opted to go it alone as an independent company, and was last privately valued by investors at $13.4 billion.

Both Plaid and Tink operate in a nascent space known as opening banking, which calls on lenders to provide…



Source cnbc.com

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