MasterCard has acquired Minna Technologies to enhance subscription management, catering to the growing demand for convenient and flexible consumer services. This strategic move aims to simplify subscription processes, improve transparency, and foster lasting consumer relationships.
2 October 2024 – Subscriptions are integral to modern lifestyles, spanning delivery, entertainment, shopping, software, healthcare, and more. With 6.8 billion subscriptions globally today, projected to rise to 9.3 billion by 2028 (Juniper Research), consumers seek convenience, savings, and flexibility.
Businesses leverage subscriptions for deeper consumer relationships and rapid, online-driven service delivery. Yet, managing subscriptions can be complex, with challenges in modification, extension, or cancellation, often exacerbated by card payment blocks.
To streamline subscription experiences, MasterCard is acquiring Minna Technologies, pending regulatory review. Minna empowers consumers to manage subscriptions via banking apps and websites, enhancing convenience for consumers and financial institutions. With partnerships across major global banks, Minna strengthens MasterCard’s subscription management capabilities.
“Our focus remains on simplifying digital ecosystems and improving consumer experiences,” says Gaurav Mittal, Executive Vice President at MasterCard. “Together with Minna, we aim to redefine subscription management by prioritizing simplicity, transparency, and sustained consumer engagement.”
In partnership with stakeholders, MasterCard commits to:
- Simplicity: Providing seamless subscription management via banking apps and central hubs.
- Transparency: Ensuring clear subscription details and reducing involuntary churn with digital receipts.
- Engagement: Enabling real-time consumer interactions to foster loyalty and growth beyond transactions.
The acquisition underscores MasterCard’s commitment to innovation in the subscription economy, driving economic growth through enhanced consumer-business relationships.
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