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Mastercard will provide direct funding to the “fintech innovators” as they put their products and services to market.
Mastercard Launch Path, a fintech acceleration initiative, has invited six young businesses that are pioneering software-as-a-service, transfers, and blockchain-based payments.
Mastercard named Asante Financial Services, Cledara, Jifti, Moeda Seeds, SpendDebt, and Tippy as “fintech innovators” in these fields on Monday. Moeda Seeds is the only blockchain organisation that provides digital banking, transfers, and microcredits through distributed ledger technology.
“As the fintech landscape evolves at an unprecedented rate, Mastercard provides the infrastructure and assets to assist fintech innovators in growing and, ultimately, bringing more people into the digital economy,” said Amy Neale, Mastercard’s senior vice president of fintech and enablers. She went on to say:
“The newest Start Path companies represent the future of the fintech industry and are designing inclusive solutions that anticipate consumer needs — we’re thrilled to partner with these innovators on their path to scale.”
Start Path is a six-month acceleration programme designed to help startups scale up and commercialise their products and services. Companies chosen for Start Path gain exclusive access to Mastercard’s technologies, experience, and services.
Mastercard is making a major leap into blockchain technologies, with its most recent Start Path participants demonstrating a renewed dedication to innovating in the payments room. According to Cointelegraph, Mastercard was one of the large corporations who led a $65 million increase for ConsenSys, one of the most popular blockchain tech companies.
The credit card issuer has now included carbon-footprint monitoring in its blockchain-based Provenance Solution, which helps consumers to make more environmentally friendly purchases while shopping for daily goods.