With a press release released yesterday, Visa announced that it had purchased the fintech Plaid company for an amount of 5.3 billion dollars; the company has developed a new system that allows users to easily connect their current accounts, and related apps, greatly simplifying their management.

Al Kelly, CEO of Visa, said that Plaid is one of the leading companies in the fintech world and is experiencing very rapid growth, the result of the skills and talent it has been able to express; the decision to acquire it aims to allow Visa to offer even more value to developers, financial institutions and consumers.

In addition, Plaid's customers have the Abra and Coinbase cryptocurrency wallets, the cryptocurrency exchange, which uses the service to obtain banking information about its users.

The agreement between Visa and Plaid is expected to materialize within a maximum of six months and, according to the CEO of the plastic money giant, this will allow Visa to consolidate and further expand its position on the market.

Moreover, Visa is very interested in investing in the fintech sector is well known, in fact this is not the first acquisition in the sector and, above all, as our readers will surely remember, Visa was part (before abandoning it) of the consortium of companies that he would have had to manage the governance of libra, the project of a made in facebook cryptocurrency which, however, in the meantime, seems to have run aground due to the difficulties in coping with the important legal issues that have hindered its actual issue.

As reported by several industry sites, to conclude, another proof of Visa's enormous interest in the fintech industry comes from the fact that, as announced a few months ago, Visa started collaborating with Revolut by forming a partnership that has allowed the English digital bank to distribute its product in new jurisdictions including Australia, Brazil, Canada, Japan, New Zealand, Russia, Singapore and the United States.