Mastercard has welcomed 10 fintechs from around the world to participate in its award-winning startup engagement program, Start Path, to scale the future of commerce. From bridging the digital divide to addressing the needs of the underbanked and beyond, Mastercard is helping fintechs accelerate the way they change the world.
Mastercard will work with these companies through a six-month program to co-innovate and uncover opportunities that leverage Mastercard’s technology, expertise and network to drive the future. Mastercard’s collaborative approach to innovation means investing in solutions that bring more people into the digital economy, instill trust, and secure every transaction and interaction.
With the accelerated shift to digital experiences and rapidly evolving consumer behaviors, COVID-19 has created an immediate need for innovative technology solutions, and partnership opportunities abound. In both developed and developing areas of the world, technology can be the difference between merely surviving and thriving.
“We all thrive when fintechs have access to the technology they need to reach scale and democratize finances,” said Ken Moore, Chief Innovation Officer at Mastercard. “We are partnering with the newest fintechs joining Start Path to drive inclusion, innovation and trust with alternative ways to pay and authenticate, powerful solutions for small businesses, new ways to create efficiency for business payments, as well as address the wealth gap."
The global market for fintech products and services is expected to hit $310 billion by 2022, and not even the current crisis has dampened the industry’s prospects. As a partner of choice for fintechs worldwide, Mastercard is committed to driving what’s next and building new solutions with partners such as those in the Start Path network.
Mastercard Start Path scours the globe to identify and partner with emerging players, and the following have been selected to join the program:
Start Path companies will have an opportunity to connect to partners in Mastercard’s global ecosystem of banks and merchants as well as technology and digital players with the goal of scaling their businesses and delivering transformative solutions. With more than 250 startups in the Start Path program since its founding in 2014, these companies have gone on to raise $2.9 billion in post-program investments and are delivering solutions that are transforming the future of commerce.