MasterCard invests in five fintech start-ups
Global payments provider market leader MasterCard has recently partnered in five new fintech start-ups, three of which work in the area of artificial intelligence (AI), and two of which target retailers and lenders in the banking and payments sector.
This isn’t the first time the company has made inroads into new technology via investing in start-ups: MasterCard’s Start path Global program, which is focused on investing into later-stage startups that have already gathered some financial momentum, has been a key area of innovation for the company in recent years.
MasterCard is up 20% over the past 12 months
SOURCE: Yahoo Finance
MasterCard’s Start Path vice president, Amy Neale, said: “Fintech start-ups around the world are designing a digital future. Our work with these start-ups helps connect new technology with reliable, secure, financial networks and processes to create an even more rewarding and seamless commerce experience.”
Divido and Endor are the retail and lender-facing companies in question. The former provides “an omni-channel platform to a range of lenders, which allows consumers to buy expensive products and services in interest-free installments” according to internetofbusiness.com. Meanwhile, Endor is an intelligence software platform to facilitate the answers to pretty much any business related question (such as ‘which geographical region should my company enter next?’) in minutes, rather than days.
The AI companies in which MasterCard has invested are Regalii, a Silicon Valley start-up that helps customers manage their finances, and is available in 30 banks worldwide; Fluid AI, and Indian outfit that uses augmented reality to deliver better in-branch experiences; and NetPlusDotCom, located in Nigeria, with the ambitious project of aiming to “dominate the African Ecommerce and electronic payment market with its range of digital products”.
Dominion holds MasterCard in its Global Trends Ecommerce Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.