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Mastercard helps five new startups in Asia Pacific to scale

Anuradha Shukla | April 13, 2017
Mastercard's Start Path Global can be accessed by startups who are re-thinking banking and payments and have raised a significant seed or Series A round of investment.

startup under magnifying glass

Mastercard is supporting five new startups in Asia Pacific through Start Path Global, the company's global initiative supporting innovative later-stage startups re-shaping the future of commerce.

Launched in 2014, Start Path Global can be accessed by startups who are re-thinking banking and payments and have raised a significant seed or Series A round of investment.

Since its launch, the six-month virtual programme has received interest from more than 5,000 startups, and worked with 100 companies across 24 countries. In Asia, there were 77 sign ups in Start Path's 2017 spring wave.

The Asia Pacific startups that have joined the programme's Spring 2017 class include:

  • Fluid AI (India), which combines artificial intelligence and augmented reality to help banks and retailers improve user experiences in branches or stores.
  • Airwallex (Australia), a startup offering an all-encompassing solution that provides quick, easy and cost-effective ways to make cross-border payments.
  • Razorpay (India), which provides an online payment gateway that allows Indian businesses to collect payments online through credit cards, debit cards, net banking, and wallets.
  • IMG (China), a computer vision company that is embedding gesture recognitions into virtual reality and augmented reality to enable retailers to offer virtual changing rooms.

According to Mastercard, 20 percent of the participants in Start Path's global programme have worked with Mastercard in commercial engagements through the first four classes.

For instance, Mastercard is collaborating with DigiSEq, an IoT payment device enabler, to connect DigiSEq device manufacturer customers with Mastercard tokenisation services and enable payments on wearables. 

Another startup, Kasisto, is working with Mastercard to pilot a bot for banks that allows consumers to transact, manage finances, receive contextual offers and learn about benefits via messaging platforms.

 "Launching actual solutions for our customers in partnership with startups is always an exciting journey for us.  We're looking forward to working with the best startups in Asia Pacific as well as help them rapidly achieve scale through Start Path Global. It's a great time to be collaborating to help tackle real problems as we work together to build revolutionary financial solutions and commerce experiences in Asia Pacific," said Tobias Puehse, vice president, Innovation Management, Digital Payments and Labs, Asia Pacific, Mastercard.

Mastercard is now accepting applications for the Start Path's Summer 2017 class till 23 April 2017 on www.startpath.com.

 

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