In a recent news report, Visa has just acquired a British company called CurrencyCloud for a total of $925 million. The company was targeted by Visa because it is a big player in the remittance market.
CurrencyCloud provides services to remittance providers and banks for foreign exchange. They simplify the process of remittance transfers, provide reliable protection against fraud and maintain compliance with regulatory standards.
Visa has been making several acquisitions in the past few months as they are looking at ways to expand their operations internationally.
In a press release from December 20th, the payment processing mogul Visa announced that it had completed the acquisition of CurrencyCloud.
The news was confirmed from CurrencyCloud official Twitter account.