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Mastercard seeks fintech start-ups

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 13 Apr 2017
Applications for the MasterCard Start Path Global 2017 Class close next week.
Applications for the MasterCard Start Path Global 2017 Class close next week.

Applications are open, to later-stage start-ups from SA and across the world, for this year's Start Path Global class.

Payments company Mastercard annually facilitates the initiative aimed at supporting innovative start-ups in the commerce solutions industry.

The Start Path Global programme offers small businesses the opportunity to work with mentors from MasterCard, and possibly collaborate with the firm.

The company is specifically looking for small businesses that are rethinking banking and payments, and have raised a significant seed or series A round of investment.

"Fintech start-ups around the world are designing a digital future," says Amy Neale, VP, MasterCard Start Path.

"They're bringing a different approach to enhance customer choice and experience across the industry. Our work with these start-ups helps connect new technology with reliable, secure financial networks and processes to create an even more rewarding and seamless commerce experience."

The virtual course runs over six months.

Start Path was established in 2014 as a way for Mastercard to work directly with global start-ups building all manner of solutions, including blockchain, artificial intelligence and chatbots.

Since inception, 100 companies across 24 countries have gone through the programme. MasterCard is currently running active pilots with, or has directly invested in, nearly 20% of the start-ups.

Some of the companies that have been through the programme include DigiSEq, an IOT payment device enabler; Kasisto, which created a conversational banking AI platform; and RecargaPay, a mobile payment solution.

To apply for the programme, start-ups need to have (other than funding) a solution live in their market, an established team, a sizeable market opportunity, and a demonstrable advantage over competitors.

Applications close on 23 April.

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