Visa lags behind its main rivals in the European market for direct payments, with open-banking platform Tink potentially unlocking access to a significant market opportunity. However, the deal will undergo significant antitrust scrutiny in the EU and the U.K.
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The failed attempt by Visa to buy Plaid may indicate a bigger problem for card networks and a few fintech companies, they are growing too large to be ignored by regulators and areas such account-to-account payments and merchant acquiring servicies may enter in antitrust scrutiny territory. In this article we tell you which PayTech companies may be in a better position to continue growing through M&A.
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Visa’s $5 billion acquisition of Plaid was unconditionally cleared by the U.K.’s CMA on August 24. It contrasts with the EU conditional approval obtained by Mastercard in its acquisition of Nets on August 17. The analysis conducted by the U.K. regulator left a door wide open for companies like American Express, PayPal and TrueLayer to continue the consolidation in the customer-to-business (C2B) payment sector.
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