BNP Paribas, SBI Group, Siam Commercial Bank, GV and Rakuten are set to exit the cross-border payment platform in a $963m acquisition by Visa.
Payment services firm Visa agreed yesterday to acquire one of its portfolio companies, UK-based cross-border payment software provider Currencycloud, at a valuation of £700m ($963m).
Founded in 2012, Currencycloud provides a cloud-based software platform which enables banks and financial services providers to offer currency exchange, real-time notifications on foreign exchange transactions, multi-currency wallets and virtual account management.
The platform supports nearly 500 banking and technology clients and has processed more than $100bn across 180 countries to date, the company said.…
