Visa recently announced that it had completed its acquisition of the UK Earthport company.
Currently, Visa allows its customers to make payments via Visa cards, and after the acquisition is completed, customers can use Visa to collect and transfer money around the world using only a bank account. With this acquisition, Visa has access to the vast majority of the world’s banking customers.
Founded in 1997, Earthport is a UK cross-border payment solution provider that provides customers with a global bank payment network channel to simplify cross-border payment processes for businesses.
Earthport employs more than 200 people and is headquartered in London, with offices in New York, Miami, dubai and Singapore. Earthport’s payment network now reaches Banks in 87 countries, with customers including Bank of America, Hyperwallet, Transferwise, Payoneer, Japan Post Bank and others.
Earthport, meanwhile, partnered with Ripple in 2015 to provide real-time payments to its Banks using distributed ledgers. It follows reports that Visa will buy Earthport, a UK cross-border payment company, with $250.6 million (about £ 189 million bn) to power cross-border payment services.
Visa has now completed its acquisition of Earthport, the UK’s cross-border payment firm, but the exact cost is unknown.