Mastercard Launches Accelerate to Supercharge Fintech Success
Mastercard has launched Mastercard Accelerate, a global initiative that simplifies the way that Mastercard works with fintechs, giving them access to everything they need to grow quickly. Offering a simple, single entry-point to the company’s wide portfolio of specialized programs, Mastercard Accelerate gives start-ups and emerging brands support and assistance for every stage of their growth and transformation, from market entry to global expansion.
Accelerate will enable fintechs to be onboarded to Mastercard in a matter of weeks and provide a guided experience through everything the company can offer. Program participants are connected to relevant parts of the business, to integrate Mastercard’s proprietary technology, leverage its insights and cybersecurity services, engage new customers, and reach new markets and segments. In addition, Mastercard’s commitment to financial inclusion drives focused product development, helping co-create solutions that enable a more inclusive economy.
“Mastercard Accelerate is a single doorway to the countless ways Mastercard can help fintechs all over the world grow and scale sustainably,” said Michael Miebach, chief product & innovation officer, Mastercard. “Fintechs are contributing to the rapid digital transformation that makes lives more convenient, simpler, and rewarding. We’re the partner of choice for the top Fintech brands worldwide, and with Accelerate we invite the next generation of global entrepreneurs to join us.”
“And for our financial institution partners and customers, Mastercard Accelerate provides access to the next generation of innovators, with a portfolio of start-up partners and fintechs ready to co-create and collaborate on new experiences,” added Miebach.
Accelerate is comprised of a range of award-winning programs that have helped participants all over the world access and benefit from Mastercard’s ecosystem, customers and innovations:
- Mastercard Fintech Express – Provides easy access to a customized set of rules, relevant resources and digital-first services designed to address the unique needs of fintechs and enable program launch and global expansion with speed.
- Mastercard Engage– Connects fintechs to thousands of Mastercard technology partners, making it quicker and easier to work together.
- Mastercard Start Path– Invites later-stage startups to participate in a 6-month program, providing opportunities to scale and secure strategic investments. More than 200 companies have participated in the Start Path’s program since its founding in 2014 and those companies have collectively gone on to raise $1.5B in capital.
- Mastercard Developers– Provides APIs for everything, empowering engineers with the ability to access Mastercard payment, security and analytics services via simple, user-friendly documentation, SDKs and sample code for the top programming languages.
Mastercard is the partner of choice for more than 60 digitized banks across Europe, doubling the number over the past two years.
Mark Barnett, Divisional President of Mastercard UK, Ireland, Nordic and Baltics commented: “Over the past few years we’ve become the payment partner of choice for challenger banks and fintechs looking to offer new and innovative solutions. Being able to tailor what we do and the technology we offer to meeting the differing needs of young and start-up businesses has been central to this. Fundamental to this is speed to market and the agility to adapt as they grow. Mastercard has been able to re-engineer itself to meet the needs of today’s fintechs. It is an exciting time for the sector and we are delighted to be at the centre of it.”
“As a launch partner of Revolut, Mastercard has been an important contributor to our success, and will enable us to meet our ambitious goal of offering innovative financial and payment solutions to people all over the world. Launching in the U.S. will be a huge milestone for us, and we are delighted Mastercard will be our go-to-market partner.”– Nik Storonsky, founder and chief executive officer, Revolut.
“Mastercard came into play from the very beginning. Before even the company had a name. We found a remarkably talented team, who can move fast, and challenge each other. A team that once believed something is right, worked hard to pollinate it within the organisation, and ensure that such innovative product can come to light, and by doing so, positioned (and continue to position themselves) amongst the most innovative brands in the industry. But more importantly, the entire Mastercard team were always respectful, and put focus on building great relationships with us as a customer; understand our needs, and doing their very best to accommodate them.” – Shachar Bialick, Founder and CEO, CURVE.
“We partnered with Mastercard because they understand our target market, how to work in the fintech ecosystem and agile ways of working. It’s early days but so far it’s as good as it gets from the level of service we’ve received.”– Ben Ashwell, Chief Product Officer, Nationwide for Business.