Visa and Plaid this week announced the "mutual termination" of their previously proposed $5.3 billion deal.
Visa said it would vigorously defend itself, in part because Plaid has no online debit products nor any in the pipeline.
What officially happened next: Visa and Plaid mutually agreed to scrap the deal, with no termination fees to be paid.
Not because of any malfeasance by Visa, but because it knew it was now worth way more than $5.3 billion.
When I asked if the company would now get into the online debit business, Perret gave a noncommittal laugh.
I'm, Rapyd, Plaid, Zach Perret, Perret, It's
Visa, Plaid, DOJ, Tuesday, US Justice Department