According to Juniper Research data, there are 6.8 billion subscriptions globally, a number that’s expected to jump to 9.3 billion by 2028.<\/p>\n

Financial services incumbents such as Mastercard have been rapidly growing their product suite to remain competitive with emerging fintech players that are offering more convenient, digitally native ways to manage consumers’ money management needs.<\/p>\n

In 2020, Mastercard acquired Finicity, a U.S. fintech firm that enables third parties \u2014\u00a0such as fintechs or other banks \u2014\u00a0to gain access to consumers’ banking information and make payments on their behalf.<\/p>\n

Earlier this year, the company announced that by 2030, it would tokenize all cards issued on its network in Europe \u2014 in other words, as a consumer, you wouldn’t need to enter your card details manually anymore and would only have to use your thumbprint to authenticate your identity when you pay.<\/p>\n