Mastercard is set to acquire Aiia, a Danish open banking technology provider, for an undisclosed sum and the transaction is anticipated to close by year’s end.

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

Mastercard has made several moves in recent times to blend its proprietary technology and multi-rail payments expertise with strong partners offering complementary services.

In 2019, Mastercard launched its first open banking connectivity offering in the UK and Poland through a partnership with Token.

With the acquisition of Finicity in 2020, Mastercard bolstered a strong commitment to its customers by bringing together top-tier technology platforms, dedicated resources and a global infrastructure to catalyze innovation and continue to deliver localized customer service.

This continued earlier in 2021 with Mastercard Payment Services, a broader set of account-to-account payment and open banking capabilities gained in the acquisition of the majority of Nets’ Corporate Services business.

Craig Vosburg

“As open banking continues to ignite innovation, we’re committed to providing a unique set of technology platforms, data connectivity and infrastructure combined with data privacy and security principles.

This will help fintechs and financial institutions innovate, gather feedback and scale faster and more effectively than ever to power smarter, more meaningful experiences.”

said Craig Vosburg, Chief Product Officer, Mastercard.

Rune Mai

“For the past decade, we have worked to build Aiia into a leading and quality-driven open banking platform, which has onboarded hundreds of banks and fintechs onto safe and secure open banking rails.

We’re excited to become a part of Mastercard and progress our journey of empowering people to bring their financial data and accounts into play – safely and transparently,”

said Rune Mai, CEO and Founder of Aiia.

Featured image: Shutterstock

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