Mastercard to Acquire Swedish Fintech Minna Technologies to Enhance Subscription Management Services – Fintech News Europe

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Gothenburg, Sweden — Paytech giant Mastercard has announced its acquisition of Swedish subscription management fintech, Minna Technologies, for an undisclosed sum.

Founded in 2016 and headquartered in Gothenburg, Minna Technologies provides innovative technology that allows consumers to manage their subscriptions seamlessly through banking applications and websites. The company claims to be the only B2B2C platform offering an automated subscription management engine, bank-grade compliance, and the most extensive global subscription and payment coverage, currently serving over 120 million users worldwide.

The acquisition comes as subscriptions continue to play a growing role in consumers’ daily lives. Gaurav Mittal, EVP and CEO of Mastercard’s Ethoca, explained the rationale behind the deal, highlighting the increasing demand for subscription-related services that foster deeper, long-term relationships between businesses and their customers.

“Subscriptions have become integral to people’s lives,” Mittal said. “However, consumers sometimes face challenges when they need to modify, extend, or cancel a subscription. Many struggle to find easy solutions, leading to frustration.”

Mittal also noted that when consumers contact their banks to block payments due to subscription issues, it often disrupts businesses’ ability to reengage with them. By acquiring Minna, Mastercard aims to improve the subscription experience for consumers while providing businesses with the tools to maintain strong customer relationships.

Minna’s technology, which is payment-scheme agnostic, will complement Mastercard’s existing suite of tools designed to manage the merchant-consumer relationship and minimize disruptions. This acquisition aligns with Mastercard’s broader strategy of enhancing digital services and improving customer experiences.

The acquisition is subject to regulatory review and follows Mastercard’s recent $2.65 billion purchase of US-based AI-powered threat intelligence platform, Recorded Future, in September.

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