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Λ > News Details Feeds & Alerts Email Address Mailing Lists Unsubscribe from e - mail alerts Visa and Plaid Announce Mutual Termination of Merger Agreement JANUARY 12 , 2021 SAN FRANCISCO -- ( BUSINESS WIRE ) -- Visa Inc. ( NYSE : V ) and Plaid today announced that the companies have terminated their merger agreement and agreed with the Department of Justice to dismiss the litigation related to the proposed transaction . The proposed transaction was first announced on January 13 , 2020 . " We are confident we would have prevailed in court as Plaid's capabilities are complementary to Visa's , not competitive , " said Al Kelly , Chairman and CEO of Visa Inc. " We believe the combination of Visa with Plaid would have delivered significant benefits , including greater innovation for developers , financial institutions and consumers . However , it has been a full year since we first announced our intent to acquire Plaid , and protracted and complex litigation will likely take substantial time to fully resolve . " Mr. Kelly added , " We are focused on accelerating our business by advancing our broader strategy and continuing to drive Visa's three growth pillars : consumer payments , new flows , and value added services . We have great momentum to build upon . Over the past year , our Visa Direct solution moved money around the world using multiple card , ACH and RTP networks , growing nearly 70