Visa has been given the green light to acquire Plaid from the Competition and Markets Authority.
In Brief:
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This comes after the authority’s Phase 1 review.
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Plaid is a digital platform that enables apps to connect to bank accounts.
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This means real-time payments can be made via a merchant’s platform without inputting card details.
What does this mean?
A review was launched to investigate several ways that competition could be reduced due to the deal, including whether it would impact the UK’s consumer-to-business electronic payments sector, but this was found not to be an issue.
