Mastercard Advances Global Open Banking Capabilities With Close of Aiia Acquisition
November 17 2021 - 4:30PM
Business Wire
Mastercard (NYSE: MA) today announced it has completed its
acquisition of Aiia, a leading European open banking technology
provider that offers single and secure API access to banks and
fintech companies, and enables users to easily perform
account-to-account payments. Aiia further advances Mastercard’s
existing distribution channels, technology, data practices and
global multi-rail and open banking strategy.
“As the shift to a digital economy continues to accelerate
globally, Mastercard’s commitment to leading innovation in
financial services remains strong,” commented Craig Vosburg, Chief
Product Officer, Mastercard. “Open banking empowers consumers and
small businesses to use their financial data to expand access to
financial services, such as demonstrating their financial wellness
to increase access to credit, aggregating financial data to improve
personal financial management, and to more seamlessly set up and
manage payments. Together, we’ll continue to build upon our API
connectivity and our multi-rail strategy to enable greater consumer
access, control and choice around the world.”
Open banking broadens access to financial services by putting
users at the center of where and how their data is used to provide
the services they want and need. Mastercard was an early advocate
of open banking and continues to demonstrate its commitment to
providing consumers choice, delivering programs at scale with
localized customer service, and innovating with relentless focus on
safety and security.
With the addition of Aiia, Mastercard further expands its
existing open banking technology and proven data practices and
reinforces the company’s progress in building a stronger global
open data network. Aiia’s open banking platforms and infrastructure
– including its strong API connectivity to over 2,700 banks across
Europe – enables Mastercard to continue to build applications
through a developer-first approach for a variety of financial
institutions, merchants, peer-to-peer networks and fintechs
globally.
At scale, Mastercard’s suite of end-to-end open banking
capabilities will continue to enable multi-rail payment flows,
enhanced consumer authentication and fraud management, and delivery
of analytics and consulting services. The deal continues to enhance
our position in offering seamless choice and activation across
multiple payment types, including cards, account-to-account, push
payments and blockchain, enabled in many cases through the power of
open banking connectivity.
About Mastercard
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all. www.mastercard.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211117006339/en/
Investor Relations: Jud Staniar,
investor.relations@mastercard.com, 914-249-4565 Communications:
Seth Eisen, seth.eisen@mastercard.com, 914-249-3153
MasterCard (NYSE:MA)
Historical Stock Chart
From Mar 2024 to Apr 2024
MasterCard (NYSE:MA)
Historical Stock Chart
From Apr 2023 to Apr 2024