Mastercard Accelerate Gives FinTechs Access To Full Suite Of Payment Services

Mastercard is rolling out Mastercard Accelerate to help streamline how Mastercard works with FinTechs and provide support from startup to expansion, the company said in a press release on Monday (Oct. 28). 

Accelerate offers FinTechs easy onboarding to access and integrate all of Mastercard’s specialized tools and proprietary technology.

“Mastercard Accelerate is a single doorway to the countless ways Mastercard can help FinTechs all over the world grow and scale sustainably,” said Mastercard Chief Product and Innovation Officer Michael Miebach. “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.”

The new solution encompasses Mastercard’s numerous programs, including Mastercard Fintech Express, Mastercard Engage, Mastercard Start Path and more.

“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.

Mastercard pursues partnerships with forward-thinking, high-tech companies to solve digital innovation challenges and offer seamless money movement with financial inclusion.

“From Mastercard Send to the launch of our new fee-free debit card, Mastercard has been an incredible partner in Branch’s efforts to create financial technology that works for hourly workers. We look forward to continuing our partnership with Mastercard as we develop new solutions to help this demographic grow financially,” said Atif Siddiqi, chief executive officer and founder of Branch.

Last week, Mastercard introduced a Data Responsibility Imperative to spark a conversation with other companies about data security.

In a Mastercard-commissioned survey, nine out of 10 people said data privacy is important to them. Just one-third of those surveyed believe companies are acting responsibly when it comes to data privacy. 

Mastercard wants organizations to work together to heighten privacy and fend off cyberattacks. The initiative depends on coming up with fundamentals to direct how data is used. It is based on the premise that businesses have a responsibility when it comes to data management.