Mastercard partners with Microsoft to accelerate innovation across payments
- Financial inclusion is a big theme for both firms.
- Microsoft's Azure cloud environment will provide the infrastructure for Mastercard's partners' inclusion products and services.
Today, Mastercard and Microsoft. announced a collaboration around digital commerce, startup innovation and financial inclusion.
What is it: The collaboration will accelerate Mastercard Labs’ cloud native research and development activities, enabled by Azure and AI, to de-risk and commercialize emerging technologies and platforms for digital commerce.
- Using Mastercard’s global network and Azure’s global reach, the collaboration will enable Mastercard’s ecosystem of partners to explore the use of emerging innovations and new commerce capabilities, like devices that enable digital payments in new ways.
- Fintech partners can design new user experiences to advance how consumers, businesses and governments exchange value, through access to Azure technologies, augmented and virtual reality and Internet of Things.
- Microsoft's Azure cloud environment will provide native infrastructure for Mastercard Labs’ inclusion efforts and support Mastercard Community Pass -- a platform that pulls together complex ecosystems and provides underserved communities with access to essential services, such as education, agriculture marketplaces and basic healthcare.
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“Mastercard’s commitment to innovation and financial inclusion has accelerated digital commerce for individuals and businesses around the world,” said Judson Althoff, executive vice president of Microsoft’s Worldwide Commercial Business.
The Start Path Program: Mastercard's Start Path program works with over 230 fintech companies worldwide, providing them access to its rails, resources and mentorship.
- Mastercard's Start Path won Tearsheet's 2020 Best Innovation Program Award.
“We are thrilled to deepen our longstanding relationship with Microsoft by advancing the research, development and scaling of new technologies and business models,” said Ken Moore, executive vice president and head of Mastercard Labs.
“This strategic collaboration will strengthen and extend our cloud services and capabilities for clients and fintech partners, sparking innovation and creativity for the ecosystem. It will enable us to explore opportunities focused on new client segments, technologies and trends as we continue to drive financial inclusion and build the future of commerce.”