Mastercard acquires Aiia to expand its Open Banking reach

Wednesday 8 September 2021 09:30 CET | News

Mastercard has entered into an agreement to acquire Aiia, an Open Banking technology provider, allowing its customers to develop and launch new digital solutions that meet the needs of everyday life.

According to the official press release, Aiia’s expertise in providing safe and secure data access complements Mastercard’s data responsibility principles. This relationship reinforces work led by Mastercard’s Finicity team to extend data-related practices across multiple industries. The connectivity of Aiia in Europe will enable Mastercard to deliver the credit decisioning and credit scoring applications of Finicity to European clients.

Aiia is a licenced Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) and operates under the supervision of the Danish Financial Supervisory Authority (FSA).

The transaction, which is anticipated to close by the end of 2021, is subject to customary closing conditions. Terms of the agreement were not disclosed.

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Keywords: Mastercard, expansion, Open Banking, acquisition, data, PSP
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce