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Mastercard has announced its acquisition of Minna Technologies, a software company that specializes in simplifying subscription management for consumers. The deal is part of Mastercard’s strategy to expand its services beyond traditional credit and debit cards into technology solutions like cybersecurity and fraud prevention. The financial terms of the transaction were not disclosed and are currently pending regulatory approval.
Through the acquisition, Mastercard aims to provide consumers with a centralized view of all their subscriptions, whether through a banking app or a dedicated platform. Minna Technologies, based in Gothenburg, Sweden, offers technology that enables users to manage subscriptions across different payment methods within their banking apps.
With the increasing prevalence of subscriptions worldwide, estimated to reach 9.3 billion by 2028, financial institutions like Mastercard are enhancing their product offerings to stay competitive in the digital landscape. In addition to Minna Technologies, Mastercard previously acquired Finicity in 2020, allowing access to banking information for seamless payments.
Visa, Mastercard’s primary competitor, has also been expanding its services to compete with emerging fintech companies. Recently, Visa introduced a new service called Visa A2A, making it easier for consumers to manage direct debits from their bank accounts.
Overall, the acquisition of Minna Technologies underscores Mastercard’s commitment to innovation and providing convenient solutions for subscription management in an increasingly digital world.
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Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.