FOSTER CITY, Calif.—Visa, announced it is acquiring Earthport for $250.6 million.
London-based Earthport provides cross-border payment services to banks and businesses and has been partners with Ripple, the blockchain-based payment network, since 2015.
“Visa’s interest in acquiring Earthport stems from its long established ambition of championing the cross-border payments business, which spiked 10% in the fiscal year 2018. Earthport, which counts Bank of America Merrill Lynch and Japan Post Bank among its clients, said Visa’s offer was a revised proposal that followed an indicative offer from the US company last month,” The Tech Portal said.