Hello there, 

What does it take to keep a pulse on innovation and look around corners? It certainly demands proactive effort. At Mastercard, we actively seek out and engage with promising startup companies across a broad range of technology domains. Since the Start Path startup engagement program was founded in 2014, we’ve worked with more than 380 FinTechs from 54 countries in related areas such as small business, open banking, digital currencies and beyond. These companies spend several months in the program working closely with Mastercard teams around the world to receive stage-relevant support, enterprise readiness training, mentorship, and introductions to prospects to grow their businesses.

Last year I advocated for AppyWay’s application to join the Start Path Emerging Fintech program and was delighted when the company joined in October. Unlike most FinTechs, AppyWay could also be described as a “GovTech” and much of our work with the management team over the past five months has been to bring the company and its capabilities to the attention of our public sector contacts and customers in local authorities and national governments. We’ve also found opportunities to spotlight the company on stage at our UK fintech forums and enabled them to establish new contacts with peer FinTechs as well as with our larger financial institution customers.

Working with AppyWay has been a useful mechanism to get colleagues and customers thinking about value creation in and around the kerb on busy city streets in ways that go beyond straightforward digital payment use cases (e.g. pay to park). We’ve engaged with teams within city governments about the broader benefits of digitization such as reduced operating costs and reduced congestion, and we’ve had interest from our automotive industry partners in how future vehicles – including fully autonomous ones – might be equipped with the data and interfaces they need to pay for kerb access directly, without driver involvement. A future in which most vehicles on major city streets are fully autonomous and operating in shared mobility fleets – picking up and dropping off consumers as needed – isn’t a certainty, however it is plausible and would have substantial implications for street management and digital payments if it becomes a reality.

The collaboration over the last five months has been constructive and mutually beneficial for Mastercard and AppyWay. We’ve been exploring what that future might hold and look forward to continued partnership beyond the Start Path program.   

Will Judge

Vice President, Global Automotive Partnerships 

Mastercard

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