The American credit card giant Visa puts his hands on European platform of open banking Tink for 1.8 billion euros. Tink, integrated with more than 3,400 credit institutions and financial institutions for 250 million banking customers reached throughout Europe is over 10 billion transactions processed every year, it will keep the brand and the team management and the headquarters will remain in Stockholm.
The platform allows banks, fintech is startup to create intelligent digital services for its users and its customers to share data between the different players in the banking ecosystem creating services that offer end users a personalized customer experience. In Italy, where the headquarters are in Milan led by the country manager Marie Johansson, customers have the ability to access end-user transaction data from twelve of the country’s leading banks: UniCredit, Intesa Sanpaolo, BancoBpm, Credem, Fineco Bank, Ing Direct, Monte dei Paschi di Siena, Banca Popolare dell’Emilia Romagna, Banca Popolare di Sondrio, American Express, Revolut and Widiba.
Visa did know that it would finance the operation with available liquidity and the acquisition would have no impact on the previously announced share repurchase program or dividend policy.
Our group “is committed to doing everything possible to foster innovation and empower consumers to support the goals of open banking in Europe,” said Visa CEO and President Al Kelly. He added: “By bringing together Visa’s network and Tink’s open banking capabilities, we will provide greater value to European consumers and businesses with tools to make their financial lives simpler, more reliable and safer”.
In January, Visa and fintech Plaid have canceled their $ 5.3 billion merger deal following a US government lawsuit on grounds antitrust.