Mastercard has acquired Minna Technologies, a Swedish provider of subscription management solutions.

Founded in 2016, Minna’s platform allows consumers to manage their subscriptions directly through their banking apps or websites, regardless of the payment method. This enables users to view, manage, and modify their subscriptions through both banking apps and central hubs.

With this integration, the credit card company aims to provide more transparency to the entire subscription process through features such as digital receipts and clear subscription information, helping to reduce involuntary churn and minimise payment blocks.

Mastercard added that the implementation will simplify the subscription process for both consumers and businesses, thanks to new tools that will help strengthen merchant-customer relationships.

The acquisition is part of Mastercard’s broader strategy to support subscription growth and enable merchants to increase engagement with customers in real-time, implementing personalised offerings after the initial transaction.

Minna currently partners with a range of large financial institutions, including Danske Bank, Lloyds, Swedbank, and ING.

According to data from Mastercard, there are currently 6.8 billion global subscriptions, with projections showing that this figure will increase to 9.3 billion by 2028.

The payment institution noted, however, that many customers still experience hurdles when managing their subscriptions, including modifying, cancelling, or even reactivating services. On the other hand, merchants are seeking to improve their subscription experience and facilitate transactions for users.

"With this addition, we will advance the technology that deepens the relationship between business and consumer, optimising our products, transparency, and consumer choice,” says Johan Gerber, EVP, Security Solutions at Mastercard.

Earlier this week, Mastercard and Amazon Payment Services signed a multi-year commercial partnership agreement to digitise payment acceptance in countries across the Middle East and Africa.

As part of the agreement, Amazon Payment Services will adopt Mastercard Gateway, a service that allows users to accept a wide range of digital transactions, including non-card payment options.

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