Mastercard Buying Finicity for $825 Million

Mastercard said today that is acquiring Finicity, a leader in real-time access to financial data, for $825 million; there is also an additional $160 million that shareholders could earn if performance targets are met; according to Mastercard, the addition of Finicity will “strengthen its open banking platform to allow and safeguard more financial services choices”; Mastercard president, Michael Miebach, said in a statement, “With the addition of Finicity, we expect to not only advance our open banking strategy, but enhance how we support and accelerate today’s digital economy across several markets. Finicity has a proven business, built on partnerships with thousands of banks and fintechs, similar to us. Finicity also shares our commitment to consumer-centric data practices, ensuring consumers have a say in how and where their information should be used.”; the transaction is expected to close by the end of year pending a regulatory review. PYMNTS.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments