Mastercard gets DOJ clearance for Finicity acquisition

It has been confirmed that The Department of Justice completed its review of Mastercard’s planned acquisition of Finicity

Clearance from the DOJ means the progress of the transaction can continue and the firm can expand its footprint through the acquisition.  

Mastercard emphasised: “We are pleased to have reached this milestone. The acquisition of Finicity accelerates our open banking strategy and strengthens our ability to offer consumers and businesses more choice in how they pay and how they simplify their lives and maximise their financial relationships.

“We look forward to closing the deal and bringing the companies together to provide further value to consumers, banks, merchants, businesses and governments.

“We are optimistic that closing will take place in the fourth quarter.” 

It comes after the group deepened its tech focus through a collaboration with GrainChain, a technology company that enables supply chain visibility, empowering suppliers and farmers while reducing risks to buyers and banks in the United States, Mexico and Central America.

Using Mastercard’s proprietary and industry-agnostic blockchain technology, Mastercard and GrainChain are uniting to create secure digital records of commodity data, marking the Mastercard Provenance Solution’s entry into Central America.