Visa has announced its acquisition of open banking FinTech Tink has been finalised.
In Brief:
Tink connects over 3,400 financial institutions across Europe through APIs.
The payments giant has acquired the business for over $2bn.
The deal was first announced in June last year and has now been finalised.
What does this mean?
Following the introduction of PSD2, meaning banks must open up their data to third party providers, companies like Tink are even more important and Visa’s acquisition will help it gain a significant share of this space.
