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Visa Acquires Fintech Firm Plaid for $5.3Bn

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Visa Incorporated, has announced that it plans to acquire financial platform, Plaid, in a deal believed to worth about $5.3 billion.

Visa Acquires Fintech Firm Plaid for $5.3Bn

The acquisition will see Visa become the owners of Plaid, a network that is used to securely connect financial accounts used to manage its financial lives. Already, both parties have signed a definitive agreement.

Speaking on the acquisition of the service, Mr Al Kelly, chief executive 0fficer (CEO) and chairman of Visa, stated that, “We are extremely excited about our acquisition of Plaid and how it enhances the growth trajectory of our business.”

“Plaid is a leader in the fast growing fintech world with best-in-class capabilities and talent. The acquisition, combined with our many fintech efforts already underway, will position Visa to deliver even more value for developers, financial institutions and consumers,” he noted.

“This acquisition is the natural evolution of Visa’s 60-year journey from safely and securely connecting buyers and sellers to connecting consumers with digital financial services,” he added.

“The combination of Visa and Plaid will put us at the epicenter of the fintech world, expanding our total addressable market and accelerating our long-term revenue growth trajectory,” Mr Kelly said further.

On the part of the acquired company, Mr Zach Perret, co-founder and CEO, Plaid, said that the deal will make sure that service operates at a global level.

“Plaid’s mission is to make money easier for everyone, and we are excited for this opportunity to continue delivering on that promise at a global scale.

“Visa is trusted by billions of consumers, businesses and financial institutions as a key part of the financial ecosystem, and together Visa and Plaid can support the rapid growth of digital financial services,” he said.

In a world where connectivity between financial institutions and developers are increasing, the Visa’s acquisition of Plaid represents both an entry into new businesses and complementary enhancements to Visa’s existing business.

According to market analysts, Plaid’s fintech-centric business will open new market opportunities for Visa both in the US and internationally and also, the combination of both parties provides the opportunity to deliver enhanced payment capabilities and related value-added services to fintech developers.

It is also believed that the acquisition will enable Visa to work more closely with fintechs through all stages of their development and drive growth in Visa’s core business.

Once the deal is closed within the next three to six months, the combination of Visa and Plaid is expected to provide significant benefits to developers, financial institutions and consumers which will enable companies enhance their global services while protecting important financial data.

The transaction is however subjected to regulatory approvals and other customary closing conditions. Visa will fund the transaction from cash on hand and debt issuance at the appropriate time. This transaction will have no impact on Visa’s previously announced stock buyback program or dividend policy.


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E-Business

Nigeria Needs Some 480,000 Local DPOs for Data Protection

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Nigeria needs some 480,000 data protection officers (DPOs), to develop, implement, and oversee organizations’ data privacy strategy to ensure compliance with laws like the GDPR and the Nigeria Data Protection Act (NDPA).

Nigeria Needs Some 480,000 Local DPOs for Data Protection

Currently only about 10,000 individuals possess the necessary certification highlighting a major skills gap, according Vincent Olatunji, national commissioner, Nigeria Data Protection Commission (NDPC).

Olatunji spoke on Monday at the second edition of its Data Protection Officers training and certification programme in Abuja and Lagos.

He said that the NDPC has domesticated the certification of data protection officers (DPOs) to address the widening gap in certified DPOs, despite steady growth in the number of trained professionals over the past three years.

“At the moment, we have about 10,000 certified DPOs to work in that space. The gap of about 480,000 still exists,” he said.

The shortfall reflects rising demand for data privacy skills as more businesses, government agencies and digital platforms process personal data under the Nigeria Data Protection Act.

Olatunji said the number of certified DPOs has grown from fewer than 1,000 three years ago to over 10,000, while more than 27,000 professionals now operate within Nigeria’s wider data protection ecosystem.

He said the commission is scaling up training and certification efforts to close the gap and position Nigeria as a leading source of data protection talent in Africa.

“Our goal is to make Nigeria the go-to country when it comes to sourcing qualified data protection officers in Africa,” he said, adding that the certification meets global standards.

The NDPC said expanding the talent pool could also support job creation and strengthen trust in Nigeria’s digital economy.

Tolu Fadipe, head of research and development at the commission, said data protection is becoming critical as the country moves deeper into digital systems and emerging technologies.

“As we move towards a digital economy, data becomes central and protecting that data is essential,” she said.

Adeola Sopade, lead trainer, said participants in the programme would be trained on global best practices, including data protection principles, compliance requirements and handling user data requests.

The training also includes practical exposure and internships with organisations to improve job readiness.

Participants said the programme offers opportunities for young Nigerians to build careers in technology and prepare for emerging fields such as artificial intelligence.

 

 


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FG Unveils ePharmacy Platform to Regulate Digital Pharmaceutical Services

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Federal government has inaugurated the Electronic Pharmacy Regulation Platform (E-Pharmacy) to enhance the safety of online healthcare services.

FG Unveils ePharmacy Platform to Regulate Digital Pharmaceutical Services

Pic credit….healthreporters.info

The platform, championed by the Pharmacy Council of Nigeria (PCN), is designed to regulate digital pharmaceutical services and improve public health outcomes.

Inaugurating the platform, Prof. Ali Pate, coordinating minister of Health and Social Welfare, said the initiative signified Nigeria’s commitment to building a world-class regulatory environment.

Pate noted that pharmacy regulation had faced significant challenges for over three decades but expressed optimism that the new platform would strengthen oversight and accountability.

He said the initiative would enable evidence-based monitoring of pharmaceutical practices while supporting innovation and investment in the health sector.

“This launch is a testament to our collective commitment to advancing technology in the service of health, safety and human dignity.

“It is a decisive step to ensure that pharmaceutical practice in Nigeria aligns with national and global health priorities, reflecting the realities of the 21st century.

“It enables the country to adopt evidence-based approaches to monitoring and protecting public health while supporting innovation and investment,” he said.

The minister added that the platform would help establish a safe, accessible and well-regulated national e-pharmacy ecosystem driven by digital technology.

Earlier, Alhaji Ibrahim Ahmed, registrar/chief executive officer of PCN, said the need to regulate online pharmacy operations became more urgent during the COVID-19 pandemic.

Ahmed said the pandemic accelerated the adoption of digital tools and e-commerce in healthcare, exposing longstanding inefficiencies in pharmaceutical supply chains, particularly in Africa and Nigeria.

“This has led to the increasing adoption of digitised distribution of essential medicines through cost-effective and technology-enabled models.

“For decades, PCN has regulated pharmacy education, training, practice and business in Nigeria. However, as the world shifts towards digital solutions, access to medicines has evolved.

“The Electronic Pharmacy Regulations 2026 provide a comprehensive legal and technical framework for the registration, licensing, operation and oversight of digital pharmaceutical services,” he said.

He added that the framework would ensure that ethical standards and patient safety are not compromised in the delivery of online pharmaceutical services.


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Flutterwave Targets Anambra as South-East Tech Hub

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Olugbenga Agboola, CEO, Flutterwave, has announced plans to establish Anambra State as the company’s hub for Nigeria’s South East, leveraging a fresh banking license from the Central Bank of Nigeria (CBN) to boost local fintech and businesses.

Flutterwave Targets Anambra as South-East Tech Hub

Flutterwave

Agboola made the disclosure yesterday in Awka during a meeting with Anambra tech community leaders, hosted alongside Dr. Stanley Uzochukwu, CEO, Stanel Group and proprietor, Delborough Hotel.

He highlighted Flutterwave’s status as Africa’s leading payment system, born in Nigeria, with infrastructure powering companies nationwide.

“We want Anambra to be our hub for the entire South East,” Agboola said. “We’ll deploy our systems, fees, infrastructure, and POS terminals to every small business and large firm here, making our services the top consumer choice.”

Agboola pledged a massive impact program for Anambra entrepreneurs to foster global platforms from the state, enabled by the new license for faster growth.

For a decade, Flutterwave has facilitated payments, but now aims to empower South East businesses through partnerships, POS access, loans, and value for SMEs.

“We’re partnering on a huge impact program launching soon—impacting the tech community with technology, financing, and lending to create more millionaires from this city,” he added.


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