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Mastercard Gets Justice Department Approval for Finicity Deal

Nov. 16, 2020, 1:00 PM

Mastercard Inc. said it won U.S. Justice Department approval for its $825 million acquisition of technology firm Finicity, just days after the federal government moved to squelch a similar deal by Visa Inc.

“We are pleased to have reached this milestone,” Craig Vosburg, Mastercard’s president of North America, said in an emailed statement. “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 maximize their financial relationships.”

The approval allays fears the purchase would attract scrutiny similar to that ...

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