Visa: buys British money-transfer company Earthport

(CercleFinance.com) - US credit card issuer Visa said on Wednesday that it will buy the British money transfer company Earthport, on terms that remain undisclosed, enabling it to strenghthen its market position worldwide.


Currently, Visa enables payments to be sent to or from Visa cards. The deal will make it possible to utilize Visa to send and receive money through bank accounts worldwide, the group said.

With the acquisition of Earthport, Visa expects to be able to reach the vast majority of the world's population with bank accounts, it said.

Nearly 80,000 billion dollars of money is sent daily via a wire transfer or bank account globally today.

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