Visa eyes up Nets
According to Quartz, anonymous sources claim the card giant is one of the companies in talks with Nets about a possible acquisition, although only for certain elements of the business.
The sources say that Visa is interested in profitable segments such as bank-to-bank payments and automatic billing to bolster its digital payments offering.
Both Visa and Nets refused to comment on the story.
The deal would be the latest in a series of recent acquisitions for Visa, which has included POS payment gateway Payworks, cross-border payment company Earthport, chargebacks tech firm Verifi and token services and ticketing businesses from Rambus.
During a recent earnings call with analysts, Visa CEO Alfred Kelly notes: “We’ve gotten our act together as it relates to fintechs. We were a little bit slow out of the chute a year and a half ago, but over the last five quarters or so, we’ve been very, very focused on fintechs.”
Nets was taken private for $4.9 billion in 2017 by a consortium led by US private equity firm Hellman & Friedman.
Visa’s main rival, Mastercard, acquired direct bank account payments company VocaLink in 2016.