Daily Management Review

Visa acquires fintech platform Currencycloud


Visa, one of the world's largest global payment systems, has completed the purchase of UK-based cross-border payment technology provider Currencycloud, Visa said in a statement.

Håkan Dahlström
Håkan Dahlström
"Visa today announced the completion of the acquisition of Currencycloud, a global platform that enables banks and fintech companies to provide innovative currency solutions for international payments," the statement reads.

Currencycloud was valued at £700 million (about $924 million).

The Currencycloud cloud platform offers a broad set of APIs that allow banks and financial service providers to offer currency exchange services, including real-time currency transaction notifications, multi-currency wallets and virtual account management. The platform works with approximately 500 banking and technology customers in more than 180 countries.

Visa is a global payments system that provides cardholders, merchants, financial institutions and governments with access to an electronic payments network.

source: cnn.com