Payments News


The Seeds of Visa’s $5.3 Billion Acquisition of Plaid Were Planted More Than a Year Ago

“Visa’s $5.3 billion acquisition of Plaid, one of Silicon Valley’s hottest startups, came after conversations between the companies’ executives intensified in late 2019. But the idea had been planted long before, with discussions at the highest ranks of the largest US card network that go back more than a year. The rationale is clear: In a world where billions of credit and debit cards have already been issued, the Visa and Mastercard duopoly need to prepare for a time when consumers move beyond pieces of plastic ( and metal ) to pay for things.”