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Report: Visa nearing acquisition of payments startup Plaid


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Report: Visa nearing acquisition of payments startup Plaid

Visa Inc. is reportedly close to acquiring financial technology company Plaid Inc.

The credit-and-debit card company could announce a deal to acquire Plaid in the coming days, according to The Wall Street Journal, which cited people familiar with the matter. Talks between the two companies have not yet been finalized, the report said.

The report did not detail a price tag for Plaid, although the company was last valued at $2.65 billion, according to S&P Capital IQ data. Its investors include Visa, Mastercard Inc. and a number of venture capital firms such as Andreessen Horowitz LLC.

Plaid would provide Visa with a stake in the money-transfer services business currently dominated by the likes of PayPal Holdings Inc.'s Venmo and Zelle.