FOSTER CITY, Calif.—Visa has completed the acquisition of publicly-listed fintech Earthport.
Visa revealed a £198 million offer for Earthport was made in December, which the London-based company recommended its shareholders accept. Earthport facilitates international transactions for banks and businesses.
Currently, Visa enables payments to be sent to or from Visa cards. The acquisition will make it possible for Visa clients to enable individuals, businesses and governments to utilize Visa to send and/or receive money through bank accounts around the world, reported Business Cloud.
“With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world’s banked population and allow them to easily, quickly and securely move money worldwide,” Business Cloud said.
“Visa is modernizing the way we move money by making it quicker, safer and easier to pay and be paid than ever before,” said Bill Sheley, head of global push payments, Visa.