Visa Inc. has acquired Earthport Plc, a British company that facilitates international transactions for banks and businesses.
American Payment Giant wants to speed up Visa transactions
Visa Incpaid £ 198 million to buy Earthport Plc (EPO.L). Earthport is a British company founded in 1997 and facilitates international transactions for banks and businesses. The payout giant offered 30 pence per Earthport share, which increased the company's share price on December 27th from 7.5 to 30.
The London-based company offers Visa's offer Londrafair and reasonableHe said he would ”advise them to accept all cash offers from shareholders.
Earthportsays banks and money transfer companies offer a lower-cost alternative to traditional payment systems, enabling them to establish a single relationship rather than too many links with various payment channels around the world.
Among Earthport customers Bank of America, Merrill Lynch and Japan Post BankIt shows. The company said Visa's offer was a revised offer following the previous offer last month.
Visa has shown interest in the blockchain, arguing that they want to be in the middle of all payments. The company even discusses plans to create a digital identity system that works with blockchain to facilitate cross-border payments. Visa is a system based on distributed notebook technology dayalımatchless”And that it will help financial institutions to make payments between businesses on an international scale.
Visa has now purchased Earthport. Interestingly, Earthport is a partner of Ripple, the blockchain company. The partnership aims to integrate the Ripple protocol into the firm's existing payment network to improve international transactions.
Hank Uberoi, CEO of Earthport:
Abilir When Ripple is integrated into a new technology and one-time payment service, it can deliver efficiency and speed to the benefit of global transfers. Earthport will apply the existing compatibility framework, rule sets, and secure payment network to any Earthport client who is using the Ripple protocol. Earth
Earlier this year, Ripple's CEO Brad GarlinghouseSaid Ripple is aiming to take over the SWIFT banking network. With Earthport's help, this may be true.
Accelerating transactions is an important location for all payment processor companies, including Visa and Ripple. All these companies are aiming to use the latest technology to become the most popular and most popular company.
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Source: toshitimes