Visa to acquire Currencycloud

Thursday 22 July 2021 14:11 CET | News

Visa has signed a definitive agreement to acquire Currencycloud, a platform that enables banks and fintechs to provide foreign exchange solutions for cross-border payments.

The acquisition builds on an existing partnership between the two companies and values Currencycloud at GBP 700 million, inclusive of cash and retention incentives. The financial consideration will be reduced by the equity of Currencycloud that Visa already owns.

According to the official press release, Currencycloud will strengthen Visa’s existing foreign exchange capabilities by extending them to better serve financial institutions, fintechs, and partners while enabling new use cases and payment flows.

The addition of Currencycloud’s capabilities to Visa’s network will also widen access to international payment products that help businesses meet their cross-border needs.

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Keywords: Visa, Currencycloud, acquisition, fintech, banks
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech