BARCELONA, SPAIN – MARCH 01: A view of the MasterCard company logo on their stand during the Mobile World Congress on March 1, 2017 in Barcelona, Spain. (Photo by Joan Cros Garcia/Corbis via Getty Images)
Mastercard said Tuesday that it’s agreed to acquire Minna Technologies, a software firm that makes it easier for consumers to manage their subscriptions.
The move comes as Mastercard and its primary payment network rival Visa are rapidly attempting to expand beyond their core credit and debit card businesses into technology services, such as cybersecurity, fraud prevention, and pay-by-bank payments.
Mastercard declined to disclose financial details of the transaction which is currently subject to a regulatory review.
The payments giant said that the deal, along with other initiatives it’s committed to around subscriptions, will allow it to give consumers a way to access all their subscriptions in a single view — whether inside your banking app or a central “hub.”
Minna Technologies, which is based in Gothenburg, Sweden, develops technology that helps consumers manage subscriptions within their banking apps and websites, regardless of which payment method they used for their subscriptions.
The company said it works with some of the world’s largest financial institutions in the world today. It already counts Mastercard as a key partner as well as its rival Visa.
“These teams and technologies will add to the broader set of tools that help manage the merchant-consumer relationship and minimize any disruption in their experience,” Mastercard said in a blog post Tuesday.
Consumers today often have tons of subscriptions to manage across multiple services such as Netflix, Amazon and Disney Plus. Owning multiple subscriptions can make it difficult to cancel them as consumers can end up losing track of which subscriptions they’re paying for and when.
Mastercard noted that this can have a negative impact on merchants because consumers who aren’t able to easily cancel their subscriptions end up calling on their banks to request a block on payments being taken.
According to Juniper Research data, there are 6.8 billion subscriptions globally, a number that’s expected to jump to 9.3 billion by 2028.
Financial services incumbents such as Mastercard have been rapidly growing their product suite to remain competitive with emerging fintech players that are offering more convenient, digitally native ways to manage consumers’ money management needs.
In 2020, Mastercard acquired Finicity, a U.S. fintech firm that enables third parties — such as fintechs or other banks — to gain access to consumers’ banking information and make payments on their behalf.
Earlier this year, the company announced that by 2030, it would tokenize all cards issued on its network in Europe — in other words, as a consumer, you wouldn’t need to enter your card details manually anymore and would only have to use your thumbprint to authenticate your identity when you pay.
Visa, meanwhile, is also trying to remain competitive with fintech challengers. Last month, the company launched a new service called Visa A2A, which makes it easier for consumers to set up and manage direct debits — payments which are taken directly from your bank account rather than by card.
Check out the companies making headlines in extended trading. Discover Financial – Shares inched lower by 1%. The financial services company posted third quarter results that surpassed expectations, with earnings of $3.69 per share on $4.45 billion of revenue. Analysts polled by LSEG were calling for earnings of $3.42 per share and revenue of $4.35 billion. CSX – The rail transportation company lost 4% after third quarter results fell short of Wall Street’s forecasts. CSX reported earnings of 46 cents per share on revenue of $3.62 billion, while analysts polled by LSEG anticipated 48 cents per share in earnings and revenue of $3.67 billion. Overall volumes were up 3% from the year-ago period, but revenue per unit was down about 1%. Alcoa – Shares of the aluminum producer jumped nearly 9%. Alcoa posted third quarter adjusted earnings of 57 cents per share, topping analysts’ estimate for 28 cents a share, per LSEG. Revenue missed the mark, coming in at $2.90 billion versus the Street’s call for $2.97 billion. Lucid Group – The electric vehicle maker slid 10% after announcing a public offering of more than 262 million shares. Lucid also said that Ayar Third Investment Company, an affiliate of the Public Investment Fund, indicated it would buy more than 374 million shares. Kinder Morgan — Shares of the energy infrastructure company fell 2.7% on disappointing third-quarter results. Kinder Morgan reported adjusted earnings per share of 25 cents and revenue of $3.70 billion. Meanwhile, analysts had estimated 27 cents earnings per share on $3.98 billion in revenue. Management also announced it expects to fall below budget on adjusted earnings before interest, taxes, depreciation, and amortization and adjusted earnings per share by 2% and 4%, respectively. PPG Industries — Shares slipped less than 1% after the paints manufacturer missed on both top and bottom lines in the third quarter. PPG Industries posted adjusted earnings of $2.13 per share on $4.58 billion in revenue. Analysts surveyed by LSEG had forecasted $2.15 earnings per share and revenue of $4.65 billion. A challenging global industrial production backdrop pressured the company’s results. SL Green – The office building-focused company tumbled around 3% after posting a revenue miss in the third quarter. SL Green reported $139.6 million in quarterly revenue, based on a rental income basis, while analysts polled by LSEG had expected $142.5 million. Meanwhile, losses came in at 21 cents per share versus the Street’s forecast of a 50-cent per share loss. Equifax — The consumer credit reporting company dropped nearly 5% after issuing weak guidance. In the fourth quarter, Equifax anticipates adjusted earnings of $2.08 to $2.18 per share, while analysts polled by LSEG sought $2.20 per share. The revenue outlook for the quarter also fell short of expectations. Steel Dynamics — The steel producer added 3%. Third quarter earnings came in at $2.05 per share, beating the $1.97 per share anticipated by analysts, per LSEG. Revenue also trounced expectations, with Steel Dynamics reporting $4.34 billion, versus the $4.18 billion estimated by the Street. — CNBC’s Darla Mercado contributed reporting
Check out the companies making headlines in midday trading. Novavax – Shares plunged more than 17% after the biotech company said the Food and Drug Administration put a clinical hold on its application for a Covid and influenza combination shot as well as a standalone flu vaccine. United Airlines – The stock soared 11% after the airline posted an earnings and revenue beat for the third quarter and guided for a strong fourth quarter. In addition, United said it is starting a $1.5 billion share buyback, its first since before the Covid pandemic. Morgan Stanley – Shares popped 7% after the bank reported quarterly results that beat Wall Street’s forecasts , boosted by higher profits from its wealth management, trading and investment banking divisions. The firm posted earnings of $1.88 per share, higher than the $1.58 expected by a LSEG analyst poll. Revenue was $15.38 billion versus the $14.41 billion consensus estimate. Cisco Systems – The technology networking stock advanced 3.3% to a 52-week high on the back of a Citi upgrade to buy from neutral. Citi said artificial intelligence can become a larger part of the business over time. Novocure – The stock rose 2.1% on the heels of the Food and Drug Administration’s approval of the company’s wearable treatment for metastatic non-small cell lung cancer, known as Optune Lua. ASML – Shares of the semiconductor equipment maker slumped 5.8%, building on a 16% loss from Tuesday after the Dutch company mistakenly released its third-quarter earnings earlier than expected . ASML Holding cut its sales outlook for 2025, citing a slower-than-expected recovery in segments beyond AI. J.B Hunt Transport Services – Shares added 3.4% after the company posted a top and bottom line beat. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue in the third quarter. Analysts polled by LSEG had forecast $1.41 in earnings per share on $3.02 billion of revenue. The company said demand for its intermodal service rose throughout the quarter. Aspen Aerogels – Shares gained 11% after the company announced that it received a conditional commitment for a proposed Department of Energy loan of up to $670.6 million. Aspen Aerogels also released preliminary results for the third quarter. For the period, the company is expecting revenue of around $117 million and adjusted EBITDA of around $25 million, above the $95.1 million in revenue and $14.1 million in adjusted EBITDA that analysts polled by FactSet were expecting. Prologis – The warehouse giant rose more than 4% after posting better-than-expected quarterly results . For the third quarter, Prologis reported core funds from operations of $1.43 per diluted share, above the $1.37 estimate from FactSet. In a statement, CEO Hamid Moghadam said: “Looking ahead, the supply picture is improving, and the long-term demand drivers for our business remain strong.” U.S. Bancorp – The stock moved more than 4% higher after U.S. Bancorp’s third-quarter earnings beat estimates, posting $1.03 per share versus the 99 cents per share that analysts were expecting, per LSEG. Revenue, however, missed estimates, coming in at $6.86 billion compared to the consensus estimate of $6.9 billion. General Motors – Shares increased more than 2% on the heels of the automaker’s agreement with Lithium Americas Corp. to establish a joint venture. The deal includes General Motors giving $625 million in cash and credit to the Canadian mining business. — CNBC’s Alex Harring, Hakyung Kim, Samantha Subin, Pia Singh and Michelle Fox contributed reporting.
Check out the companies making headlines before the bell. Cisco Systems — The networking technology stock added nearly 2% on the heels of a Citi upgrade to buy from neutral. Citi said artificial intelligence can become a bigger part of the business over time. Novocure — Shares soared roughly 22% after the U.S. Food and Drug Administration approved Novocure’s Optune Lua wearable treatment for metastatic non-small cell lung cancer. Morgan Stanley — Shares gained more than 3% after the bank reported quarterly results before the bell that beat Wall Street’s forecasts, helped by higher-than-expected revenue from its wealth management, trading and investment banking operations. The firm’s earnings came in at $1.88 per share, versus the $1.58 expected by a LSEG analyst poll. Revenue was $15.38 billion versus the $14.41 billion consensus estimate. United Airlines — Shares rose about 1% after the airline beat earnings and revenue expectations for the third quarter. United also announced a $1.5 billion share buyback, its first since before the pandemic. ASML — Shares of the Dutch chip equipment firm slid 4% before the bell, adding to Tuesday’s losses after it accidently released its third-quarter results a day early . The report was disappointing as ASML cut its 2025 sales forecast, suggesting weakness in markets other than those that serve AI applications. J.B Hunt Transport Services — Shares jumped more than 7% after the company’s third-quarter results topped expectations. J.B. Hunt posted $1.49 earnings per share on $3.07 billion of revenue. Analysts polled by LSEG had forecast earnings of $1.41 per share on $3.02 billion of revenue. The company said demand for its intermodal service rose throughout the quarter. — CNBC’s Sean Conlon, Alex Harring, Sarah Min, Michelle Fox and Hakyung Kim contributed reporting.