Visa acquires Earthport for US$257mn
Today Visa announced that is has purchased Fintech company Earthport for US$257mn. $80trn is sent via a wire or transfer each year, and the process is both costly and outdated as transactions require days to reach completion. The acquisition of Earthport will enable Visa customers to reach the majority of individuals, businesses and governments that actively bank, making the transfers more efficient.
Bill Sheley, head of global push payments for Visa, commented on the acquisition: “Visa is modernizing the way we move money by making it quicker, safer and easier to pay and be paid than ever before.”
Earthport is a publicly-listed, British company part of the Fintech50. It specialises in cross-border payments by maintaining local banking relationships, settling local business with banked beneficiaries in over 87 countries. It has regional offices in New York, Miami, Dubai and Singapore.
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Sheley continued: “The acquisition of Earthport unleashes the power of Visa by taking us 'beyond the card,' empowering us to enable our clients to make payments through bank accounts around the world.”
In the last year Visa Direct’s transaction count has increased by 100%. With the fusion of these two companies, this rate of growth can be expected to continue, enforcing Visa’s dominance on the platform of international banking.
Citizens Bank and Bizagi webinar: Meet the speakers
In Citizens Bank’s upcoming webinar, the company will discuss how digital transformation has enhanced critical banking processes.
Having provided an overview of the and the to be discussed, we’d now like to properly introduce the speakers: , Senior VP at Citizens Bank; , Professional Services Director at Bizagi; and , Senior Director at Blue Prism.
Now in his tenth year at Citizens Bank, Dixon heads up the company’s Consumer Banks Intelligent Automation initiatives. Prior to joining, he held previous roles in finance as a COO and a consultant. Dixon also held the rank of Sergeant in the US Army.
Rhule has had a diverse career that include roles at Nike, FedEx, the US HSS, and more, however a common thread has been his skilled application of technology.
Holding Masters degrees in both IT Systems Management and Project Management (both from Keller Graduate School of Management), Rhule joined Bizagi in 2019. As such, he seems to be a natural asset for the company’s mission of creating synergy between businesses and IT.
Finally, Jain joined Blue Prism in 2020. He held a variety of executive positions throughout a long and impressive career. In addition to working at Blue Prism, Jain is also an incumbent Instructor in Intelligent Automation at the University of Toronto.
Jain’s value to Blue Prism is obvious: the company is positioning itself as a leader in intelligent automation, unlocking opportunities for operational efficiency for over 1,800 businesses across 150 countries.