Visa International Service Association, a unit of Visa, has offered GBP 0.3 for each Earthport share.
Earthport offers an alternative to traditional payments systems by allowing banks and money transfer companies to have a single relationship instead of multiple ties with various payments channels around the world.
For Visa, cross-border payments, or transactions that involve parties in two or more countries, represent a growing business. The volume of such payments rose 10% in the 2018 fiscal year, according to Visa in October 2018.
Earthport, which counts Bank of America Merrill Lynch and Japan Post Bank among its clients, said Visas offer was a revised proposal that followed an indicative offer from the US-based company in November 2018.
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