June 25, 2021

Visa announced a $2.2 billion takeover of Swedish open banking platform Tink on Thursday, months after it cancelled a $5.3 billion planned purchase of U.S. data-sharing platform Plaid over the U.S. government’s antitrust lawsuit.

The acquisition of Tink is part of Visa’s efforts to diversify revenues beyond credit card payments.

With the acquisition of Tink, Visa may acquire a company responsible for providing technologies that facilitate access to customer data for third parties and banks.

Once the deal is completed, it will be another groundbreaking achievement for Sweden’s financial technology startup sector.

For more information, read the original story in Reuters.