Mastercard, a technology company in the global payments industry, recently welcomed 10 startups to its Start Path programme at the Mastercard ‘Connecting Tomorrow’ Forum in Barcelona, Spain, as part of its efforts to drive the startup ecosystem.
Mastercard’s Start Path is the company’s global initiative to provide startups with the operational support and commercial access needed to scale.
The programme brings together a global network of innovators, ranging from startups to banks and merchants, to shape the future of commerce in an agile and accelerated manner. Start Path evaluates roughly 1,600 applications per year, and invites about 40 later-stage startups to participate each year.
Representing numerous countries including Jordan, Nigeria, Mexico, Australia, Singapore, the UK and the US, the participating startups are developing innovative financial services technologies that exemplify a new level of innovation and convenience in customer experience. During the Mastercard ‘Connecting Tomorrow’ Forum, the selected startups were given the opportunity to pitch their ideas to an audience of more than 250 potential investors and partners.
Gaurang Shah, senior vice president, Product Management, Digital Payments & Labs, MEA, Mastercard said that “Startups are reimagining all touch points of the consumer lifecycle, and we must harness their unique approach to addressing emerging challenges to our advantage.”
The ideas presented by startups ranged from new approaches, to enabling small merchants to accept payments and manage personal data and digital identities, to solutions that allow consumers to pay together for e-commerce transactions, as well as programmes that empower citizens to be in control of their financial obligations across multiple geographies.