On June 26 at Money20/20 Europe, Mastercard (No. 7 on the DiversityInc Top 50 Companies list) announced the latest wave of startups joining Mastercard Start Path – the company’s global effort to support later-stage fintech and tech companies shaping the future of commerce.
Spanning five countries, the newest class is focused on bridging the gap between physical and digital retail through a variety of solutions. Several of the selected startups are harnessing insights from in-store traffic patterns and spending habits to create personalized experiences for customers. Others are helping merchants accept payments through SMS messaging systems and bill-paying platforms for large expenses that historically could not be paid using a card.
“As commerce becomes increasingly connected, fintechs will play a key role in meeting customer demand for smart and seamless experiences,” said Amy Neale, vice president, Mastercard Start Path. “We’re providing startups who are reimaging this space with the tools, mentorship and introductions they need to grow their businesses faster than they could by themselves.”
The latest wave of Start Path participants include:
- CardUp manages monthly credit card payments for big ticket items such as rent or insurance, while also accessing credit and earning additional rewards.
- ftcash enables micro-merchants and entrepreneurs to take collateral-free business loans and accept mobile app and messaging-based payments from their customers.
- The ModoPayments platform enables new ways to pay, including the use of loyalty points to buy everyday goods in-store.
- Movvo provides insights on in-store browsing and shopping patterns.
- ToneTag enables contactless payments on any device using soundwaves instead of NFC.
- RecommenderX develops cutting-edge data analytics to offer personalized recommendations.
During the conference, Neale will moderate “Getting to a Joint Fintech Formula,” an interactive session that introduces attendees to Airwallex, CardUp and RecommenderX and tests their knowledge of key industry trends including artificial intelligence, data analytics, user experience, and new ways to pay. [Monday, June 26, 15:40 CET; Upper Expo Hall, Stage 6]
ftcash, ModoPayments, Movvo and ToneTag will highlight their latest technologies at the Startup City exhibition. [Hall E, Main Atrium]
Applications for the next six-month virtual program will be accepted through 11:59 p.m. ET on Tuesday, August 1, 2017. The program is open to startups who are rethinking banking, payments and commerce and have raised a significant seed or Series A round of investment. Interested startups can visit https://www.startpath.com/ for additional information and to submit an application.