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Visa set to buy CyberSource
Visa said yesterday it would buy CyberSource, a company that helps retailers accept online payments, to boost its business in fast-growing areas such as emerging markets and online commerce. Visa, the world’s largest credit and debit card processor, would pay $26 a share, or about $2bn (£1.3bn), for CyberSource. That amounts to a premium of nearly 34 per cent over CyberSource’s closing share price yesterday. Visa said the deal would increase its ability to process payments online, where analysts estimate it already controls about 45 per cent of the market.