Mastercard announced on Tuesday that it has agreed to acquire Minna Technologies, a subscription management software startup based in Gothenburg, Sweden. The payments giant views this acquisition as a strategic move to assist consumers in managing the complexity of their subscription services, ranging from Netflix to Amazon Prime. According to Juniper Research, there are currently 6.8 billion subscriptions globally, a figure expected to rise to 9.3 billion by 2028.
Mastercard aims to address the consumer pain point of managing multiple subscription services by integrating Minna Technologies‘ software into its ecosystem. This move also aligns with Mastercard’s broader strategy to diversify beyond core credit and debit card services into areas such as technology services, cybersecurity, fraud prevention, and pay-by-bank payments. Although financial details of the transaction have not been disclosed, Mastercard emphasized that the deal is still subject to regulatory review.
The company envisions providing consumers with a unified view of all their subscriptions, accessible through their banking apps or a central “hub.”
Minna Technologies specializes in technology that helps consumers manage subscriptions within their banking apps and websites, regardless of the payment method used.
Mastercard expands with Minna Technologies
The company collaborates with some of the world’s largest financial institutions and counts Mastercard among its key partners.
In a blog post, Mastercard stated, “These teams and technologies will add to the broader set of tools that help manage the merchant-consumer relationship and minimize any disruption in their experience.” Mismanagement of subscriptions can negatively impact merchants, as consumers who struggle to cancel services often resort to requesting their banks to block payments. This acquisition reflects Mastercard’s ongoing efforts to expand its product offerings amid rising competition from fintech companies. In 2020, Mastercard acquired Finicity, a U.S.-based fintech firm that facilitates third-party access to consumers’ banking information for payments.
Additionally, earlier this year, Mastercard announced plans to tokenize all cards issued on its network in Europe by 2030, simplifying the payment process for consumers by eliminating the need to enter card details manually. This move underscores the dynamic landscape of financial services, where traditional institutions like Mastercard and Visa are continually innovating to keep pace with emerging fintech players. Mastercard declined to provide further details on the financial terms of the deal.
Stay tuned for more updates as the regulatory review process unfolds.
