Mastercard’s new Accelerate initiative is intended to celebrate the success of fintech applications and aid in the expansion of fintech startups and their products across the globe. The initiative is intended to help emerging fintech companies and startups get on their feet, leading them through all growth stages – from market entry to worldwide expansion.
Mastercard offers enormous resources for startups, including proprietary technology, cybersecurity expertise, and market access.
Mastercard is targeting fintech disruptors – innovative, companies with market-changing ambitions. The Accelerate program is intended to help direct them into focused product development. The financial giant hopes to create the conditions that will create a more dynamic, inclusive economy.
According to Michael Miebach, chief product & innovation officer at Mastercard, the Mastercard Accelerate initiative serves as a doorway to the company’s resources, which will help smaller fintech players grow, scale, and expand sustainably. Accelerate sums up all of Mastercard’s rich experience and provides a single entry point through which companies can familiarize themselves with some of the most valuable secrets of the trade.
Accelerate is designed to welcome a new generation of fintech entrepreneurs, Miebach says, who are eager to conquer the market by making their products more accessible and more effective.
Entrepreneurs won’t be the project’s only beneficiaries. Mastercard’s financial-institution partners and large customers will be introduced to a talent pool from which they can choose employees, partners, and technologies. The benefit is mutual, as Accelerate sets out to form a bridgehead of never-before-seen proportions between developing fintech companies and major players who are in search of innovative solutions.
The Accelerate platform integrates some of Mastercard’s existing programs like Start Path and Engage, which provide education to small businesses and connect startups to thousands of Mastercard technology partners.