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Visa acquired Currencycloud in a deal worth USD 963 mln

Tuesday 21 December 2021 11:31 CET | News

Global payments processor Visa has announced the acquisition of Currencycloud, a worldwide platform that allows fintechs and banks to offer innovative foreign exchange solutions for cross-border payments. 

Through the acquisition, both parties will increase their transparency, flexibility, and control for both businesses and customers when handling international payments or doing business in various currencies.

Before the takeover, Currencycloud’s cloud platform was already supporting more than 500 tech and banking clients, with a global presence in over 180 countries, including popular multi currency wallets and currency exchange service providers start-ups like Monzo, Moneze, and Revolut. 

Visa completed the acquisition of Currencycloud in December 2021 after it was previously announced in July 2021. The price was set to almost USD 1 billion (USD 963 million) but since the American company already has equity in the company, the amount paid in total will be reduced by the amount previously invested.

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Keywords: Visa, acquisition, Currencycloud, digital wallet, payment processing, credit card
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce