Top Payment Cos. Embrace Innovation With Fintech Buys
Law360 (July 17, 2020, 9:15 PM EDT) -- This year has seen two notable fintech infrastructure companies, Plaid and Finicity, gobbled up by the world's leading payments behemoths, highlighting the importance of under-the-hood financial technology and signaling a continuing trend of established financial institutions embracing fintech.
In January, Visa Inc. said it would acquire San Francisco-based Plaid Inc. for a robust $5.3 billion, wrapping the fintech company's technology that allows users to easily connect their financial accounts with thousands of online applications into the payment processor's global business. Perennial competitor Mastercard Inc. likewise made a move into the fintech infrastructure space last month, snapping up Salt Lake City-based Finicity...
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