We may be different in size, but there are many more similarities than differences, which we witness through Start Path. The award-winning startup engagement program relentlessly scours the globe for firms that offer promising payments technologies and show a readiness for scale. After searching around its presence in 210 geographies and beyond, Mastercard and seven startups are descending upon Dublin this week to ignite their collaboration. Together, we will set a blueprint for the next six months between tailored programs, operational support and commercial engagements with the Mastercard ecosystem. The newest Mastercard Start Path companies join a network of more than 190 that, through Start Path participation, have gone on to raise more than $1.2 billion in capital and now work with some of the world's largest banks and widely renowned organizations.
There is a lot being said about the sharing economy at the moment, and conveniently last month Mastercard released a whitepaper The Sharing Economy: Understanding the Opportunities for Growth. I was reading it last night on the train back from London and in this post will share my notes. There are countless definitions of the sharing economy. Mastercard indicate that the natural instinct to share with one another combined with new technology that enables that sharing to happen in unprecedented ways will ensure that the sharing economy is here to stay. "..a socio-economic ecosystem that empowers people to share underutilised assets directly with others."
AI Express is one example of how the Brighterion capabilities are helping Mastercard play an active role in accelerating the adoption of artificial intelligence and machine learning by opening up its proven platform to the wider industry. The capability is built into the multi-layered security strategy of the Mastercard network to act within milliseconds to detect and manage fraud. The systems continually get smarter and power proven Mastercard security solutions like Decision Intelligence, Safety Net, Early Detection, Authorization IQ. Now, AI Express enables Mastercard customers to benefit directly from the same advanced artificial intelligence capability.
Your new Mastercard may have a built-in fingerprint scanner, the company announced Thursday. Currently, Mastercard is testing what it calls the "next-generation biometric card" in South Africa. In addition to a PIN and chip, a scanner will also be included so users can authenticate each of their purchases. What's more, the new card is supposedly no thicker than current credit and debit cards are. How it works: According to the company, cardholder must enroll their card by registering with their financial institution.