Visa Announces Completion of Tink’s Acquisition

Friday, 11/03/2022 | 07:01 GMT by Bilal Jafar
  • Tink is an open banking platform.
  • In June 2021, Visa signed an agreement to acquire the fintech firm.
visa

Yesterday, NYSE-listed financial services provider, Visa announced that the company completed the acquisition of Tink, a prominent open banking platform in Europe that enables fintech companies, banks and other startups to develop data-driven financial services.

Tink facilitates its clients through a single API. The platform is integrated with over 3,400 banks and financial institutions. According to the details shared by Visa, Tink will continue to operate as a standalone subsidiary of the financial services provider in the near future.

In June 2021, Visa signed an agreement to acquire Tink in a deal worth 1.8 billion euros. Through the combination of its services with Tink, Visa is planning to assist its clients with sustainable benefits.

“Digital tools are driving the new economy, and the combination of Visa and Tink will support greater choice and quality of digital money services as the lines between commerce, financial services and payments continue to converge,” said Charlotte Hogg, the CEO of Visa Europe.

In the past 12 months, Visa announced several acquisitions to expand its global presence. The company completed the acquisition of Currencycloud in December 2021.

Digital Financial Services

The global demand for innovative technology-driven financial solutions has increased significantly since the outbreak of the pandemic. According to Jack Forestell, the Chief Product Officer of Visa, the combination of Visa and Tink’s services will increase the adoption of open banking.

“Openness and innovation are the two vital elements necessary to fuel the growth of future digital financial services. The combination of Visa’s proven infrastructure and sustained investment in resilience, cybersecurity and fraud prevention with Tink’s APIs, technology and customer relationships will help accelerate the adoption of open banking around the world by providing a secure, reliable platform for innovation,” Forestell said.

Visa mentioned that Daniel Kjellén, the Co-Founder and CEO of Tink, along with the existing management team will continue to lead the company.

Yesterday, NYSE-listed financial services provider, Visa announced that the company completed the acquisition of Tink, a prominent open banking platform in Europe that enables fintech companies, banks and other startups to develop data-driven financial services.

Tink facilitates its clients through a single API. The platform is integrated with over 3,400 banks and financial institutions. According to the details shared by Visa, Tink will continue to operate as a standalone subsidiary of the financial services provider in the near future.

In June 2021, Visa signed an agreement to acquire Tink in a deal worth 1.8 billion euros. Through the combination of its services with Tink, Visa is planning to assist its clients with sustainable benefits.

“Digital tools are driving the new economy, and the combination of Visa and Tink will support greater choice and quality of digital money services as the lines between commerce, financial services and payments continue to converge,” said Charlotte Hogg, the CEO of Visa Europe.

In the past 12 months, Visa announced several acquisitions to expand its global presence. The company completed the acquisition of Currencycloud in December 2021.

Digital Financial Services

The global demand for innovative technology-driven financial solutions has increased significantly since the outbreak of the pandemic. According to Jack Forestell, the Chief Product Officer of Visa, the combination of Visa and Tink’s services will increase the adoption of open banking.

“Openness and innovation are the two vital elements necessary to fuel the growth of future digital financial services. The combination of Visa’s proven infrastructure and sustained investment in resilience, cybersecurity and fraud prevention with Tink’s APIs, technology and customer relationships will help accelerate the adoption of open banking around the world by providing a secure, reliable platform for innovation,” Forestell said.

Visa mentioned that Daniel Kjellén, the Co-Founder and CEO of Tink, along with the existing management team will continue to lead the company.

About the Author: Bilal Jafar
Bilal Jafar
  • 2440 Articles
  • 80 Followers
About the Author: Bilal Jafar
Bilal Jafar holds an MBA in Finance. In a professional career of more than 8 years, Jafar covered the evolution of FX, Cryptocurrencies, and Fintech. He started his career as a financial markets analyst and worked in different positions in the global media sector. Jafar writes about diverse topics within FX, Crypto, and the financial technology market.
  • 2440 Articles
  • 80 Followers

More from the Author

FinTech

!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}