Mastercard agrees to buy subscription management software startup Minna

Mastercard (NYSE:MA) has agreed to buy Minna Technologies, a Swedish software company that simplifies online subscription management for consumers, for an undisclosed price, according to a Tuesday release.

The acquisition comes as Mastercard (MA) is seeking to broaden its focus beyond its main credit and debit card operations to include technology services like fraud prevention and pay-by-bank payments.

In March, the company introduced an open-banking-powered solution, called Smart Subscriptions, to help consumers manage their subscription activities.

The deal with Minna will enable Mastercard (MA) to provide consumers with a unified view of all their subscriptions.

Minna enables consumers to oversee their subscriptions through their banking apps and websites, irrespective of the payment method employed for such subscriptions. It has reached more than 120M global users, Chair and CEO Amanda Mesler said in a statement.

Mastercard (MA) did not immediately respond to Seeking Alpha’s request for comment.