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Visa, Plaid call off merger following antitrust pressure
Read full article: Visa, Plaid call off merger following antitrust pressureFILE- 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 purchase of payment-processing technology company Plaid, citing the Justice Department's antitrust lawsuit filed last year to block the deal. (AP Photo/Richard Drew, File)CHARLOTTE, N.C. – 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. After Visa bid to buy Plaid, politicians and antitrust experts argued the deal would give Visa — which is already the largest payment processing company in the world — even more power over how customers and businesses pay for goods and services.
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