"Cuscal, which provides payment services to mutual banks and fintechs, has acquired Basiq, a Sydney-based start-up backed by powerful investors including Westpac and National Australia Bank, in a deal that points to the looming consolidation of payments, data systems and digital identity. The deal provides an exit for Basiq’s shareholders which include US card giant Visa, Westpac’s venture capital fund Reinventure Group, NAB Ventures, Salesforce Ventures, AP Ventures (backed by Afterpay) and Plaid, a large US-based banking data company."