With its Fintech Express program, Mastercard intends to expand its support for innovative startups in the field of digital payments. The payment systems specialist aims to strengthen partnerships with European fintechs, in particular to help them accelerate their time-to-market.
Working with innovative fintechs
Mastercard's objective is simple: to multiply its collaborations with fintechs seeking new partnerships and new payment solutions. By enabling emerging startups to benefit from Mastercard's expertise and network, the payment systems specialist aims to enable these young companies to concentrate on the innovation side of their business.
Joining the Fintech Express program will enable startups tosignificantly accelerate the time-to-market for their digital payment solutions, reducing it from months to days without a partnership.
In concrete terms, the selected Fintechs will obtain a Mastercard License, enabling them to integrate Mastercard's global payment network in a simplified way. They will also gain Express Partner status, and benefit from technological partnerships and advantages offered by Mastercard.
Mastercard in favor of Open Banking
The payment solutions specialist sees Open Banking as an opportunity to support innovative solutions brought to market by fintechs.
"Mobile payments, access to finance or e-commerce: fintechs have become the cornerstone of our modern payment infrastructure," says Mark Barnett, President of Mastercard Europe in a recent press release. With the launch of the Fintech Express program, he aims to provide even more tangible support for emerging startups, helping them to "realize their ambitions for growth and speed of action."
The Fintech Express program is part of Mastercard's global Fintech platform, Mastercard Accelerate, which works to support Fintechs at every stage of their development.