Mastercard backs blockchain, payment startups with Start Path

Mastercard has announcing the latest 11 companies to join its Start Path, a program aimed to support later-stage FinTechs across the globe.

The payments processor launched the program in early 2014 to provide operational support, commercial access and strategic investment for startups who are building innovative solutions in financial services and commerce.

Amy Neale, vice president of Mastercard Start Path, said: “The diversity of Start Path proves how quickly the pace of innovation is happening in so many areas. Providing a range of companies with the resources and introductions they need to scale allows us to enable new ways to build the future of commerce together.”

The companies include online payment fraud business Shiedlpay, RegTech 100 company Trunomi, blockchain solutions provider AID:Tech, and e-business company NetPlusDotCom.

Mastercard has also picked InsureTech startup well, digital payments business Flutterwave, social media payments provider Goodworld, smartphone payments company Mobeewave, and receipt management business Sensibill.

HYPR, which claims to reduce the risk of data breaches by eliminating the need for a centralised credential store, and Zeta Optima, which manages employee claims, fuel card, medical allowance and other tax saving benefits, have also made the cut.

Wole Faroun, founder and CEO of NetPlusDotCom, said: “We joined Start Path because we were excited about the possibility of collaborating with a leading global payment technology company, but we got much more out of the programme. Being exposed to international markets and receiving mentoring by top professionals in our industry allowed us to launch a joint solution within months of being in the programme.”

Mastercard says applications for the next six-month virtual programme will be accepted until 15 January 2018.

Trunomi was recently hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.

Earlier this month, two other RegTech 100 companies were involved in acquisitions. Skyhigh Networks, a provider of cloud security and enablement, was recently purchased by cybersecurity giant McAfee. While Qumram was snapped up by Dynatrace, a provider of digital performance management software.


Copyright © 2017 FinTech Global

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