Mastercard has completed the acquisition of open banking technology provider Aiia for an undisclosed sum.

The European fintech firm offers single API access to banks and fintech firms, enabling them to develop and launch digital offerings.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Supervised by the Danish Financial Supervisory Authority (FSA), the acquired firm is a licensed Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP).

The acquisition of Aiia will enhance Mastercard’s open banking technology along with its existing distribution channels, technology and data practices.

Mastercard chief product officer Craig Vosburg said: “Open banking empowers consumers and small businesses to use their financial data to expand access to financial services, such as demonstrating their financial wellness to increase access to credit, aggregating financial data to improve personal financial management, and to more seamlessly set up and manage payments.

“Together, we’ll continue to build upon our API connectivity and our multi-rail strategy to enable greater consumer access, control and choice around the world.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Mastercard noted that Aiia’s API is connected to over 2,700 banks across Europe. It counts banks, fintechs, accounting system providers and payment firms as clients.

Earlier this year, Lloyds Bank Commercial Banking selected Mastercard to offer an open banking payment solution to its business clients.

In 2019, Mastercard partnered with Token to launch its first open banking connectivity offering in the UK and Poland.