Mastercard introduces initiative to help fintechs conquer Europe

Global payment provider Mastercard has today announced the launch of its new initiative Fintech Express, aimed at helping European startups to launch and expand rapidly.

Fintech Express first launched in the Asia Pacific region back in November 2019, but Mastercard has now set its sights on Europe’s fintech ecosystem.

The programme hopes to combine Mastercard’s extensive network and expertise with innovative fintechs destined for European expansion.

Fintech Express will give startups access to Mastercard-backed payment solutions, products and technology, helping them to focus on their expansion plans.

Mark Barnett, president of Mastercard Europe said: “In recent years, European startups have been driving the global transition towards more digital economies.”

“Mastercard has already established itself as the partner of choice for fintechs across Europe and with today’s announcement we are taking the next step in further empowering them to fulfil their ambitions of scale and speed,” he added.

Fintech Express is part of Mastercard’s fintech-focused platform, Mastercard Accelerate, which launched last year to help fintechs grow through using Mastercard’s extensive resources.

The payment provider giant has also seen a recent concerted push towards open banking.

Barnett added: “Open banking provides an opportunity for traditional financial players to collaborate with fintechs to bring innovative products to people safely and simply. 

“With this in mind, Mastercard also recently launched a new suite of Open Banking Solutions™ to underpin, enable and safeguard greater choice of financial services across Europe.”