Visa Agrees to Buy Open-Banking Platform Tink for $2 Billion
- Swedish platform connects to 3,400 banks across Europe
- Transaction to be funded by Visa’s existing cash on hand
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Visa Inc. has agreed to buy Swedish open-banking platform Tink AB as the payment giant looks to expand beyond its card network.
San Francisco-based Visa said it will pay a total of 1.8 billion euros ($2.15 billion) -- including cash and retention incentives -- to acquire the fintech firm, according to a statement Thursday.