One of world’s biggest financial services company Mastercard is launching a next-generation support tool aimed to promote innovation in the Fintech sector.
‘Accelerate 2.0’ provides access to Mastercard’s insight, tools, technology and investment. According to Banking Tech, the company invested about $90 million for fintech support, on a course of 18 months.
The Accelerate 2.0 will work alongside the Start Path Program, which provides support to companies plus strategic investments.
Vice chairman of Mastercard Ann Cairns said that this innovation is just the start of becoming a partner of choice of Fintech companies in the world. She added, “Globally, the Fintech community is one of the most vibrant and fast-paced, and Mastercard is committed to helping these fast-growing businesses unleash their full potential.”
Accelerate 2.0 includes ‘Global Reach’, a new service designed to expand customer’s card issuance in new territories and ‘Premium Products’ which grants access to its premium brand mark.
In the long run, the company will be designing more tools to provide engagement with other payment option of the Fintech community. What the company is doing for years is linking partnerships with startups to become global brands. Emerging banks who partnered with Mastercard received perks and benefits that couldn’t be possible with cash payment terms.
Mastercard is also proud to announce that fintech customers have increased by 400 million in 2018, which means their initiatives and tools actually work and help small business expand and grow. “With a portfolio of initiatives and tools, such as Accelerate 2.0 providing professional measures, constant evolution and convincing results, we can comfortably offer a customized, non-standard approach for all Fintechs and indeed digital giants,” said Mastercard EVP Market Development Jason Lane.
Mastercard is among the world’s most valuable brands, with over $247.1bn market cap and $15bn in sales according to Forbes.