Mastercard Accelerate Ignites Next Generation of Fintech Disruptors and Partners to Build the Future of Commerce
August 12 2020 - 9:00AM
Business Wire
11 companies join the Start Path startup
engagement program; nearly 50 new deals signed to Engage network to
help customers make growth ambitions a reality
Mastercard has announced the expansion of its Accelerate fintech
portfolio, adding dynamic entrepreneurs to its award-winning
startup engagement program Start Path and more technology partners
to its Engage network, providing access to expert engineers and
specialists that can help customers deploy new services quickly and
efficiently. Mastercard helps emerging brands build and scale their
businesses, supporting their programs today and providing the
resources they will need in the years to come. Recognizing the
important role fintechs play in the world’s rapid digital
transformation, Mastercard is continuously diversifying its
business by diversifying its perspective – looking to new partners
and new ways to build on its core competency as a payments
network.
"With the dramatic shift towards digital payments, the rise of
open banking and the growth of blockchain and cryptocurrencies,
there's never been a more exciting time to be an innovator in
fintech,” said Ken Moore, Executive Vice President and Head of
Mastercard Labs. “Mastercard is thrilled to partner with some of
the world’s most innovative startups to transform the future of
commerce."
Mastercard Start Path Mastercard is welcoming 11 new
startups to its Start Path program, offering a powerful network,
innovative technology and deep expertise to help them grow their
businesses and scale sustainably. Since 2014, Mastercard has
invited more than 230 later-stage startups worldwide to participate
in its six-month virtual program, providing technical guidance,
operational support and commercial engagements within the
Mastercard ecosystem.
Start Path evaluates more than 1,500 applications each year and
selects approximately 40 startups that offer the most promising
technologies and demonstrate a readiness to scale. Startups in this
growing network have gone on to raise $2.7 billion in post-program
capital and collaborate with Mastercard, major banks, merchants and
other high-profile organizations.
Mastercard Engage Consumer expectations are evolving more
rapidly than ever, and banks, financial institutions and digital
players are looking for even more agility in bringing new solutions
to market. Mastercard’s global reach and local roots afford it the
ability to foster a strong, carefully curated network of technology
partners that are qualified based on Mastercard standards and
industry requirements. Mastercard is expanding its Engage program
to support even more solutions and deliver better learning and
promotional opportunities for partners.
Engage identifies, serves and promotes a network of more than
170 strategic partners who comply with Mastercard certification and
rules to build and deploy new solutions on behalf of fintechs,
banks and merchants. In the first quarter of 2020 alone, Mastercard
Engage signed almost 50 new deals with partners such as Antelop,
Giesecke+Devrient Mobile Security, MeaWallet, Netcetera, Payair and
Thales across Europe, Latin America, Asia Pacific and Middle East
Africa.
Strengthening the capabilities of technology partners is even
more critical during times of crisis, so fintechs can innovate
faster and better serve consumers and businesses. Engage has
enabled more than 200 million cards to support financial growth and
market entry for fintechs around the world. Additional resources
are now available for partners through the new Mastercard Engage
website.
Notes to Editors The following companies are joining the
Start Path network to grow and scale their blockchain and open
banking solutions (Bit Capital), financial inclusion platforms
(Hello Tractor), carbon footprint measurement products (Doconomy)
and more:
- Aper partners with financial institutions to develop their own
e-commerce marketplaces, enabling them to enter a new market,
cross-sell financial products and protect from disruption.
- Bit Capital is a blockchain-based open banking platform that
enables customers to deliver their own digital financial products
securely and quickly.
- Doconomy offers digital tools such as the Åland Index CO2
emission calculator to educate and inspire consumers and is already
partnering with Mastercard to encourage more sustainable
consumption choices that benefit the planet.
- Finerio Connect is the first end-to-end open banking and
personal finance management Application Programming Interface in
Latin America that empowers fintechs and financial institutions to
build customized and rapid solutions.
- Hello Tractor is revolutionizing mechanization services across
emerging markets by bringing together tractor owners and
smallholder farmers through Internet of Things technology and
allowing farmers to access affordable tractor services, plant on
time and increase yields.
- Izicap helps local merchants thrive by turning cardholders’
payment cards into loyalty cards and merchants’ payment terminals
into powerful marketing devices.
- Juvo analyzes mobile network data to build financial identities
for the 68% of adults worldwide with no formal credit history.
- Olive is a card-linked platform for organizations driven to
help their members take the first step towards realizing personal,
financial and socially impactful goals.
- vcita helps small business owners build a business they’re
proud of with a single app to manage clients, time and money.
- Xformative empowers embedded financial services via its
cloud-native issuer processor platform, designed with a unique
suite of modular Application Programming Interfaces that can be
configured to almost any use case.
- PhishAR provides the world’s first app-based
phishing-resistant, two-factor authenticator to help eliminate
phishing-based financial fraud and ransomware attacks.
About Mastercard (NYSE:MA) Mastercard is a global technology
company in the payments industry. Our mission is to connect and
power an inclusive, digital economy that benefits everyone,
everywhere by making transactions safe, simple, smart and
accessible. Using secure data and networks, partnerships and
passion, our innovations and solutions help individuals, financial
institutions, governments and businesses realize their greatest
potential. Our decency quotient, or DQ, drives our culture and
everything we do inside and outside of our company. With
connections across more than 210 countries and territories, we are
building a sustainable world that unlocks priceless possibilities
for all. www.mastercard.com.
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Jen Langione +1 (914) 318-2111 Jen.Langione@mastercard.com
Global Communications
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