Mastercard has recently announced the launch of the “Fintech Express” initiative in Europe. This is a program designed to facilitate the development and expansion of emerging fintech companies. This was reported by Muy Pymes, from Spain, on June 4.
The article, signed by David Olivares, explained: “This program offers strategic alliances and access to Mastercard’s experience, technology and extensive global network of contacts to promote innovation in the digital economy”.
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The idea is that “Fintech Express” will help startups to establish and grow in a personalized way. There are three steps to consider, as detailed in the Very Small Business publication:
-Access: startups obtain a Mastercard license that gives them The News Spy access to the company’s global payment network through a simplified incorporation process.
-Construction: Fintech becomes an ‘Express Partner’ by establishing unique technological alliances and taking advantage of all the benefits offered by Mastercard.
Connection: startups have contact with other qualified ‘Express Partners’ and activate their alliance with Mastercard within days.
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“The program is designed specifically for fintech seeking to develop and add payment solutions to its suite of services, as well as for emerging tech-savvy startups looking to expand into a new segment and more established startups looking to innovate through partnerships. One of the great advantages of becoming an ‘Express Partner’ is that the launch of payment solutions is simplified and shortened from a process of several months to a few days. On the other hand, partners will also be able to enjoy all the benefits available to members of the Mastercard Engage program,” wrote Olivares.
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Mark Barnett, president of Mastercard Europe, said:
“In recent years, European startups have driven the global transition to digital economies. The development of new technologies has marked our lives in many ways. Whether it is mobile payments, access to finance or e-commerce, Fintech has become the mainstay of our modern payment infrastructure. Mastercard is already the preferred partner of European Fintechs and with the announcement (…) we are taking the next step to empower them to meet their goals more quickly and on a larger scale.