#Payments / UK Regulators OK Visa’s Planned Acquisition Of Plaid

The watchdog determined that “Plaid would have been an increasing competitive threat to Visa in future, but that it is only one of a number of PIS providers already active in the U.K.” It named Token.io, Tink, Yapily and TrueLayer as other firms “already possessing similar, or stronger, competitive capabilities than Plaid.”

“On this basis, the CMA concluded that in the U.K. Visa would continue to face sufficient competition from PIS-enabled payments, and other types of services enabling consumer-to-business payments, after the merger,” the watchdog said.

As of Jan. 13, Visa said it would purchase Plaid, which is geared toward the creating of application programming interfaces (APIs) that let clients share their data with thousands of apps, for $5.3 billion.

https://www.pymnts.com/news/partnerships-acquisitions/2020/uk-regulators-oks-visas-planned-acquisition-of-plaid