VISA Inc. - V STOCK NEWS

Visa (NYSE: V) has signed a definitive agreement to acquire Tink, a European open banking platform, for 1.8 billion Euros, including cash and retention incentives. Tink connects with over 3,400 banks, enabling financial institutions and businesses to develop personalized financial services. This acquisition aims to enhance Visa's capabilities in fostering innovation in open banking across Europe, facilitating better financial management for consumers and businesses. Tink will retain its branding and management, with operations continuing from its Stockholm headquarters. The deal is subject to regulatory approvals.

Visa (NYSE: V) has launched its first U.S. pilot of Tap to Phone in Washington, D.C. to support Black-owned small businesses (SMBs). This initiative aims to help 50 local SMBs embrace digital payment technology through partnerships with ZmBIZI. This launch is part of Visa's broader goal to digitally enable 50 million SMBs. The Tap to Phone technology allows users to turn Android devices into point-of-sale acceptance devices, enhancing access to the digital economy. This pilot is part of a six-city revitalization initiative to empower diverse entrepreneurs.

Visa (NYSE: V) has partnered with Goldman Sachs Transaction Banking to enhance global money movement for businesses. Implementing Visa B2B Connect and Visa Direct Payouts, Goldman Sachs will streamline cross-border payments, improving efficiency for both B2B and B2C transactions. The solutions provide near-real-time payment tracking, improved cash flow, and simplified reconciliation. Clients can use Visa’s services immediately, benefiting from a unified workflow and optimized fees.

Visa (NYSE:V) has launched an expansion of its Fintech Partner Connect program, aiming to facilitate quicker connections between financial institutions and vetted technology providers. This program, initially available in Europe, is now accessible in the U.S. and various global markets. By offering reduced implementation fees and access to diverse digital solutions, Visa seeks to help its issuing partners enhance customer experiences. Industry leaders emphasize the importance of adopting digital tools to evolve banking services while maintaining strong customer relationships.

Visa has announced its participation in several upcoming investor conferences. Key presentations include Vasant Prabhu discussing at the Bernstein Strategic Decisions Conference on June 2 at 1:30 p.m. ET, Jack Forestell at the William Blair Growth Stock Conference on June 3 at 12:20 p.m. ET, and Ryan McInerney at the Baird Global Consumer, Technology & Services Conference on June 8 at 12:15 p.m. ET. Additionally, Vasant Prabhu will present at the Bank of America Global Technology Conference on June 9, followed by Oliver Jenkyn at the RBC Capital Markets FinTech Conference on June 17. Webcasts will be available for 30 days on the Investor Relations website.

Visa (NYSE: V) has introduced the Visa U.S. Spending Momentum Index (SMI), an economic gauge reflecting consumer spending health. The SMI reached 136.0 in April 2021, with 65% of consumers spending more than the previous year. The index highlights recovery post-pandemic, surpassing pre-pandemic spending levels for 51% of consumers. While consumer confidence is increasing, spending momentum varies regionally, particularly in areas with high job losses during the pandemic. Visa aims to publish SMI components monthly for public access, supporting economic recovery insights.

Monterey-Salinas Transit (MST) has launched a contactless payment option in collaboration with Visa, becoming the first transit agency in California to implement this technology. This innovation aims to enhance safety and convenience for riders as public transport resumes amid recovery efforts. MST's tap-to-pay feature allows passengers to pay fares using credit or debit cards and mobile wallets, with a daily limit of $10 to ensure affordability. MST is the fifth agency in the U.S. to adopt such a system, promoting user-friendly transit experiences across California.

Visa Inc. (NYSE: V) announced its participation in two upcoming investor conferences. On May 10, Al Kelly, CEO, will present at the virtual MoffettNathanson Payments Summit at 9:00 a.m. ET, lasting approximately 50 minutes. On May 24, he will present at the J.P. Morgan Global Technology Conference at 2:00 p.m. ET for about 35 minutes. The presentations will be available as listen-only audio webcasts for 30 days on the Investor Relations website. Visa continues to lead in digital payments, emphasizing innovation and secure transaction capabilities.