Financial services giants Visa (NYSE:) and Mastercard (NYSE:) have shown an increased interest in the trillion-dollar digital payment sector through their recent acquisitions of innovative fintechs.
In January this year, Visa acquired fintech firm Plaid for $5.3 billion. The San Francisco-based firm enables data sharing of financial information between different fintech apps like Venmo and Chime, supporting over 2,000 financial institutions. As such, the acquisition could strengthen Plaid’s global wire transfer capabilities.
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