Mastercard to Acquire Minna Technologies, Add Subscription Management Capabilities

Mastercard has agreed to acquire Minna Technologies, adding to their suite of services, pending regulatory review.

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 minimize any disruption in their experience.

All of us involved in subscriptions – merchants, financial institutions, payment networks and others – can collectively create a win-win approach for each of us and most importantly, for the consumer. There is already a lot of work being invested in this space. And, Mastercard and Minna Technologies see an opportunity to do more together.

To support the subscription experience that both people and businesses want, there are three additional focus areas where Mastercard are committed to alongside their partners and customers:

• Providing Simplicity – It’s agreed that a better customer experience involves a straightforward and easy-to-use process. That includes consumers having access to all their subscriptions in a single view. Whether within the transaction in their banking apps or websites or in a central hub, Mastercard are committed to delivering an easy to access view of subscriptions so people can sign up for, change, cancel or resubscribe to their favorite services.
• Enabling Clarity – The end consumer should have no question about who they have subscriptions with and what they purchased. It comes down to activating solutions that provide consumers transparency (e.g., digital receipts) that help reduce involuntary churn, minimize blocks and create greater value.
• Growing Relationships – The future of subscription management solutions must give merchants the ability to interact with their customers in real-time, driving engagement, retention and growth. The investments that businesses make in their consumers must continue beyond the first transaction or onboarding them. We are focused on strengthening these connections and supporting businesses in the ways in which they deliver loyalty, rewards and customized offerings to their consumers.

Mastercard are excited about the opportunities in the subscription economy. The future is about building on what works today and finding ways to do more. When we come together to collaborate and innovate we can help simplify a complex digital ecosystem, deliver better experiences and help grow the economy.