Visa may be forced to buy Visa Europe payments system

Visa

Major acquisition on the cards?

Visa could be forced to pay a sum in the billions to buy the Visa Europe payments system, according to The Wall Street Journal. The news comes under a plan being discussed by the European banks that own the business. 

“Bringing Visa Europe in-house could help the company directly tap fast-growing markets like Turkey and Poland and bolster its competitive edge against other players, including rival MasterCard, which runs a smaller payments network but owns its European operations.”
The WSJ wrote.

Financial groups that own the European business are reportedly planning the set-up of their own payments business. It would compete against Visa and MasterCard in processing debit –and credit – card transactions.

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