Mastercard launches digital banking intiative

Mastercard has launched the new programme called Accelerate to drive growth of FinTech firms and help them reach scale at speed

Mastercard has launched the new programme called Accelerate to drive growth of FinTech firms and help them reach scale at speed.

Under the programme, Mastercard will provide tailored support arrangements such as access to insight, tools, technology and investments.

The initiative, part of the company’s strategy to bolster its engagement with the payment FinTech community, will be operated in conjunction with the company’s Start Path programme.

Mastercard said that the tools covered by the programme include licensing specialists to help market expansion and in-market access to account expertise for quick growth.

Additional resources comprise Mastercard Advisors for in-market execution support, data insights and analytics.

The programme will also offer market-based resources for associated strategic investing and flexible early-stage collateral requirements.

Mastercard vice-chairman Ann Cairns said: “Creating this platform is the next step in our long-term focus on being partner of choice for fintech companies around the world.

“Globally, the FinTech community is one of the most vibrant and fast-paced, and Mastercard is committed to help these fast growing businesses unleash their full potential.

“With more than half a century of experience in supporting growth of the financial services industry, Mastercard is uniquely positioned to provide the platform which can propel fintech businesses along increasingly ambitious growth paths.”