Payments giant Mastercard has agreed to acquire Minna Technologies, a company that helps consumers manage subscriptions through banking apps and websites, pending regulatory approval.

The acquisition aims to enhance Mastercard’s suite of services by offering consumers an easier way to handle their subscriptions.

With the global subscription market growing rapidly—currently at 6.8 billion and expected to reach 9.3 billion by 2028, according to Juniper Research—Mastercard sees an opportunity to improve the subscription experience for both consumers and businesses.

The integration of Minna’s technology will allow users to view, modify, or cancel subscriptions more easily, all within their banking platforms.

Minna’s services are payment-scheme agnostic, allowing for greater flexibility across different financial systems.

This acquisition is part of Mastercard’s broader effort to simplify and enhance the subscription process.

Gaurav Mittal, Chief Executive Officer & Executive Vice President, Ethoca, a Mastercard company, said,

“Minna’s payment-scheme agnostic services enable consumers to manage subscriptions within their banking applications and websites. Minna works with some of the largest financial institutions in the world today.

These teams and technologies will add to the broader set of tools that help manage the merchant-consumer relationship and minimise any disruption in their experience.”

Amanda Mesler, Chair and CEO of Minna Technologies, said,

“This is significant recognition of the strength, growth and impact of Minna Technologies in powering the global subscription economy, partnering with top-tier banks, fintechs and subscription businesses.

We look forward to joining Mastercard’s world-class team and helping businesses to empower consumers with control, convenience and flexibility in managing their subscriptions and recurring payments.”

Featured image credit: Edited from Freepik

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