Mastercard Announces the Completion of Aiia Acquisition

The global leading technology company in the payments industry Mastercard announced that it has completed the acquisition of Aiia, a European leading open banking platform, advancing its existing distribution channels, technology, data practices and global multi-rail and open banking strategy.

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In September, Mastercard announced the acquisition of Aiia. The company highlights that the addition of Aiia expands its existing open banking technology and proven data practices and reinforces the company’s progress in building a stronger global open data network.

Aiia’s open banking platforms and infrastructure enables Mastercard to continue to build applications through a developer-first approach for a variety of financial institutions, merchants, peer-to-peer networks and fintechs globally.

“Open banking empowers consumers and small businesses to use their financial data to expand access to financial services,”Craig Vosburg, Chief Product Officer, Mastercard said.”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.”

Last month, Mastercard has partnered with Bakkt ​to offer a broad set of cryptocurrency solutions and services to merchants, banks and fintechs in the U.S.