Fintech: MasterCard Enters Commerce Startup Field

Yet another financial services company has upped the Fintech and Start Up ante as MasterCard announce the launch of Start Path Global – a unique six-month partnership programme for startups that extends Start Path’s existing footprint in a greater number of countries globally across Asia Pacific, the Middle East, Africa and Latin America, as well as in Canada.

The programme builds on Start Path’s efforts over the past 18 months to provide a variety of operational support, partnership, or investment for over 40 commerce related startups , including Nymi, ZenCard, BillHop and Gone.

Start Path Global puts the startup first: there is no need for a startup to relocate and no equity is taken. Instead, they are provided with immediate access to more than  60 MasterCard experts, opening the door to pilot opportunities with MasterCard or MasterCard customers, while retaining full ownership for any intellectual property (IP) developed.

“Start Path thoughtfully connects the right partners with the right startups to build the future of commerce together,” said Stephane Wyper, Global Lead of MasterCard Start Path. “And now with our global expansion, we will be able to target a broader range of startups and help them achieve success.”

As Start Path expands internationally, startups will also benefit from access to Start Path Partners, a group of more than 20 leading companies in banking, retail, and technology including Rakuten, SAMSUNG CARD, TSYS, Target, Bank of Montreal, and Santander InnoVentures. Start Path Partners was created to provide these customers with a first look at unique technologies and to offer startups a direct line into these corporates to test their solutions.

“Working with MasterCard Start Path introduces us to disruptive, early stage companies that may have the answers to overcoming the critical pain points facing global commerce,” said Mariano Belinky, Managing Partner at Santander InnoVentures. “Businesses graduating from the Start Path program should all be well prepared, proven, and ready to go to market. These are just the types of ambitious startup businesses we’d like to meet.”

 

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