back Back
Seeking to raise capital? Seeking to invest? Click Here & Express your early interest to be a part of IBS Intelligence’s new fund initiative.

Visa to acquire open banking platform Tink for €1.8 billion

By Megha Bhattacharya

June 24, 2021

Share

Visa today announced it has signed a definitive agreement to acquire Tink, a European open banking platform. Visa will pay total financial consideration of €1.8 billion, inclusive of cash and retention incentives, to acquire Tink. The transaction is subject to regulatory approvals and other customary closing conditions.

“Visa is committed to doing all we can to foster innovation and empower consumers in support of Europe’s open banking goals,” said Al Kelly, CEO and Chairman of Visa. “By bringing together Visa’s network of networks and Tink’s open banking capabilities we will deliver increased value to European consumers and businesses with tools to make their financial lives more simple, reliable and secure.”

“For the past ten years we have worked relentlessly to build Tink into a leading open banking platform in Europe, and we are incredibly proud of what the whole team at Tink has created together. We have built something incredible and at the same time we have only scratched the surface. Joining Visa, we will be able to move faster and reach further than ever before. Visa is the perfect partner for the next stage of Tink’s journey, and we are incredibly excited about what this will bring to our employees, customers and for the future of financial services,” said Daniel Kjellén, CEO and Co-founder of Tink.

Recently, German full-service payment provider Novalnet AG, and European open banking platform Tink, partnered to bring a new open banking payment solution to the European payments market.

Charlotte Hogg, CEO of Visa Europe, added, “This acquisition is a sign of our commitment to Europe. In Tink, we have found a strong partner with whom we can accelerate innovation in open banking for the benefit of our collective clients and the citizens of the U.K. and the E.U., while investing in high-skill tech jobs on the continent.”

Previous Article

June 24, 2021

Meniga & Länsförsäkringar roll out personal finance management solution

Read More
Next Article

June 24, 2021

Royal Credit Union to merge with Peoples Choice Credit Union

Read More










IBSi Daily News Analysis

The Weekly Wrap

August 12, 2022

The Weekly Wrap: all you need to know by Friday COB | August 12th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

ANZ New Zealand selects FIS’s modern banking platform

Read More

August 04, 2022

IndusInd Bank partners with M2P to offer digital first products

Read More

August 04, 2022

3 companies helping Mongolia to embrace FinTech

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
IBS Intelligence - Global Digital Banking Vendor & Landscape Report Q2 2022
Global Digital Banking Vendor & Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Wealth Management & Private Banking Systems Report Q2 2022
Wealth Management & Private Banking Systems Report Q2 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q2 2022

£1,500.00 / year

Know More
IBS Intelligence - Treasury & Capital Markets Systems Report Q2 2022
Treasury and Capital Markets Systems Report 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022