In a bid to propel innovation and bolster payment acceptance solutions, Mastercard has unveiled the expansion of its renowned Start Path program. The initiative welcomes six cutting-edge startups poised to revolutionize various facets of payment technology, signaling a strategic move to address evolving market demands and enhance the digital payments landscape.
The inaugural Start Path Acceptance cohort comprises late-stage startups committed to fostering accessibility, affordability, and innovation in payment acceptance solutions. With a focus on empowering small businesses and facilitating non-traditional channel acceptance, these startups bring a diverse array of expertise to the table.
Mastercard’s Start Path program offers a unique blend of mentorship, collaboration opportunities, and access to the company’s extensive network of banks, merchants, and digital players. By leveraging Mastercard’s resources and expertise, participating startups gain invaluable insights and support to accelerate their growth trajectories and drive meaningful impact in the payments ecosystem.
Among the standout participants is Cardstream, a UK-based firm renowned for its innovative Payment Gateway and PayFac-as-a-Service platforms. Their inclusion underscores the program’s commitment to fostering FinTech enablement and collaboration to unlock new possibilities in payment technology.
Additionally, two American startups, Gr4vy and Hooxpay, bring their cloud-based payments orchestration and card optimization platforms, respectively, to the table. Their contributions promise to reshape the payment acceptance landscape by introducing cutting-edge solutions that prioritize innovation, traceability, inclusivity, and trust.
Rounding out the cohort is Tazapay, a Singapore-based collection and payments platform specializing in cross-border commerce. Their expertise in facilitating seamless transactions across diverse markets underscores the program’s global outlook and commitment to driving inclusivity and accessibility in payment solutions.
Oz Azaria, CEO of Hooxpay, expressed enthusiasm about the program, emphasizing their vision for acceptance centered on innovation, traceability, inclusivity, and trust. This sentiment echoes the overarching mission of the Start Path program to foster collaboration and drive meaningful innovation in the payments industry.
Mastercard’s decision to expand its Start Path program comes amid a growing trend towards digital payments, as highlighted in its recent quarterly earnings call. With contactless payments gaining traction and tokenized transactions on the rise, the company remains at the forefront of driving digital transformation in the payments landscape.
As the program celebrates its 10th anniversary, Mastercard remains committed to nurturing startups and driving innovation in payment acceptance. With over 400 firms supported to date, and a collective raise of more than $15 billion, the Start Path program continues to serve as a catalyst for growth and innovation in the global payments ecosystem.