MasterCard to buy Finicity by the end of the year

By: Miguel A. Rodriguez

09:45, 14 September 2020

MasterCard secures its spot on the Northern American market.

This week debuted with major acquisitions and sales from major companies. Earlier we wrote about how SoftBank will sell a stake in T-Mobile for $21 billion. MasterCard moves against the current. Today it announced that it would purchase the open-banking company Finicity for $825 million. 

In the press release, MasterCard mentioned that this deal would be auspicious, as its position regarding the open-banking capabilities will strengthen, and the customers will be in charge even more than usual over their financial data as they will collaborate with third-party providers that rely on banking information. The open-banking system helps fintech applications to provide services that benefit the user's banking and financial credentials.With this, MasterCard can expand in North America after it took Europe by storm connecting with more than 1,800 financial institutions. 

This is not Finicity’s first rodeo with major financial institutions. In the past, it worked with JP Morgan, Fidelity Investments, Wells Fargo & Co, and Capital One Financial Corp

The deal is expected to settle by the end of the year.

MasterCard stock price gained 0.6% in today’s early trading. Overall, it gained more than 50% in just three months, while USA500 added 39%.

Follow for more market news!


Share this article

The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.