Mastercard, a Purchase, New York-based leading financial services corporation, as per recent reports, has announced the upgraded version of the Accelerate program – Accelerate 2.0 – to drive growth at scale for fintech start-ups.
The Accelerate 2.0 program comes with three new advancements, which include Global Reach, the company’s new card-issuing territory expansion service. In addition, the company has also guaranteed access to the Mastercard Premium Products for fintechs enrolled in this program. Mastercard, with one singular framework, has streamlined its product requirements for all consumer cards and commercial propositions in all 31 European Economic Area (EEA) countries.
“Transactions with our top five fintech customers increased more than ten-fold in just one year, reaching almost 400 million in 2018,” states Jason Lane, EVP – Market Development Europe, Mastercard. “With a portfolio of initiatives and tools, such as Accelerate 2.0, providing professional measures, constant evolution and convincing results, we can comfortably offer a customized, non-standard approach for all fintechs, and indeed digital giants, from product to execution.”
Over the course of the past 18 months, Mastercard has invested more than $90 million in fintech support.
Mastercard’s suite of initiatives includes Start Path, for late-stage start-ups that seek partnership with Mastercard and its customers; Engage, which by connecting banks and merchants with technology partners enables deployment of new services; and API Developer Zone, for developers who want to access standardized products and services from Mastercard and its partners.