Mastercard expands investment in Europe to further power the expansion of FinTechs, helping them reach scale at speed
Mastercard announces the creation of Accelerate, a new initiative to drive growth at scale for the fast-evolving FinTech industry, reflecting the company’s ongoing commitment to this sector. The initiative is designed to support the ambitions of players in the FinTech sector through tailored support arrangements including access to insight, tools, technology and investment to support innovation. Designed to operate alongside the successful Start Path programme, Accelerate broadens and deepens our engagement with the payment FinTech community including the next generation of digital banks.
Tools include dedicated Mastercard licensing specialists to support market expansion, in-market access to account expertise to fast track growth, and unparalleled ability to connect to comprehensive processing assets. Resources will include Mastercard Advisors for in-market execution support, data insights and analytics. The program also provides market-based resources for related strategic investing and accommodative early-stage collateral requirements.
“Creating this initiative is the next step in our long-term focus on being partner of choice for FinTech companies around the world” commented Ann Cairns, Vice Chairman, Mastercard. “Globally, the FinTech community is one of the most vibrant and fast-paced, and Mastercard is committed to help these fast growing businesses unleash their full potential. With extensive experience in supporting growth of the financial services industry, Mastercard is uniquely positioned to provide the platform which can propel FinTech businesses along increasingly ambitious growth paths.”
Mastercard has been committed to FinTech for many years, fostering partnerships with pioneers who have grown into global brands. Mastercard currently supportsover 30 emerging and established digital banks in Europe alone. Mastercard research shows unequivocally that consumers are engaging with digital banking with greater frequency, and with greater expectation. The market opportunity for ambitious digital banking businesses and FinTechs is clear and Mastercard is prepared to help them seize it.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.