Mastercard acquires Minna Technologies, simplifying subscription management

Mastercard has announced the acquisition of Minna Technologies, a Swedish software firm specializing in subscription management. This strategic move aligns with Mastercard's efforts to diversify beyond traditional credit and debit card services into areas like cybersecurity and fraud prevention. Minna Technologies’ platform enables users to manage all their subscriptions within banking apps, regardless of the payment method used. This acquisition aims to provide consumers with a unified view of their subscriptions, reducing the hassle of tracking multiple services such as Netflix and Amazon.

Additionally, it helps merchants by minimizing disruptions caused by difficult-to-cancel subscriptions. The deal, whose financial terms are undisclosed, complements Mastercard's ongoing initiatives and partnerships with major financial institutions. The acquisition also highlights Mastercard's commitment to staying competitive against fintech disruptors by expanding its digital service offerings.

Source: CNBC