Mastercard is transforming itself from a focus on plastic to digitally enabled payment processes and tools. It is actively supporting development in fintech through in-house labs and various incubator and accelerator programs. Mastercard has developed and launched various solutions based on wearables, IoT, and facial recognition technology. As of April 2018, Mastercard has filed over 30 patents related to blockchain and cryptocurrency.
Mastercard Fintech Strategy
a) In-House Applications
b) Investment Division
c) Accelerator Programs
Mastercard’s fintech investments have been mainly focused on US companies, but it is now looking at the Indian fintech market. In October 2017, Mastercard announced its plans to invest $750m in Indian fintech companies by 2020. To maintain a significant role in the payments ecosystem, Mastercard is actively investing in companies offering digital payments solutions for purchases of goods and services.