7/22, 11:30 AM (Source: TeleTrader)
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Chart for: Visa Inc

Visa acquires cross-border payment platform Currencycloud

Visa Inc. announced on Thursday it has finalized the deal to acquire the cross-border payment platform Currencycloud in a contract valued at £700 million ($961 million).

The two companies issued a statement explaining that the acquisition will "strengthen Visa's existing foreign exchange capabilities" due to the fact that Currencycloud operates in "over 180 countries."

"The acquisition of Currencycloud is another example of Visa executing on our network of networks strategy to facilitate global money movement," Visa's global treasurer, Colleen Ostrowski, commented.

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