By Michael Dabaie

 

Mastercard said it will acquire Aiia, a European open banking technology provider.

Aiia offers a direct connection to banks through a single application programming interface, Mastercard said.

Mastercard didn't disclose the terms of the deal, which it said it anticipates closing by year's end.

"The value of open banking comes through empowering consumers and businesses to use their own data to obtain financial services solutions simply, securely and quickly. The addition of Aiia anchors our European open banking efforts and allows us to continue to meet our customers where they are," said Craig Vosburg, chief product officer of Mastercard.

Shares were up 2% to $347 in early trading.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

September 07, 2021 10:05 ET (14:05 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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