KEN SWEET, AP Business Writer Jan. 12, 2021Updated: Jan. 12, 2021 3:59 p.m. FILE- In this April 23, 2018, file photo, the logo for Visa appears above a trading post on the floor of the New York Stock Exchange. Visa Inc. on Tuesday, Jan. 12, 2021 called off its planned $5.3 billion […]
KEN SWEET, AP Business Writer
CHARLOTTE, N.C. (AP) — Visa Inc. on Tuesday called off its planned $5.3 billion purchase of payment-processing technology company Plaid, citing the Justice Department’s antitrust lawsuit filed last year to block the deal.
Plaid provides the infrastructure that allows consumers and businesses to make payments directly from their bank accounts. Services like Venmo, SoFi, Stripe and TransferWise all use Plaid as a way for consumers to send money from their bank accounts to another party without having to use the debit-card infrastructure that’s largely controlled by Visa and its competitor Mastercard.
The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. The government began distributing the payments, worth $600 per eligible adult and dependent, at the end of December. However, many people who filed their taxes with an online preparation service […]