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

This information prepared by is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation, or the particular needs of any recipient.You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation, or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.This information may not be published, circulated, reproduced, or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of Financial Services (Pty) Ltd trading as CAPEX.COM/ZA acts as intermediary between the investor and Magnasale Trading Ltd, the counterparty to the contract for difference purchased by the Investor via CAPEX.COM/ZA, authorised & regulated by the Cyprus Securities and Exchange Commission with license number 264/15.  Magnasale Trading Ltd is the principal to the CFD purchased by investors.