- Microsoft Corporation (NASDAQ: MSFT) and Mastercard Inc (NYSE: MA) have announced that they have signed a deal to accelerate innovation across digital commerce and startup ecosystems
Microsoft Corporation (NASDAQ: MSFT) and Mastercard Inc (NYSE: MA) have announced that they have signed a deal to accelerate innovation across digital commerce and startup ecosystems. This collaboration will accelerate Mastercard Labs’ cloud native research and development activities — enabled by Azure and AI — to advance Mastercard Labs’ mission to de-risk and commercialize emerging technologies and platforms for digital commerce. And through access to technical expertise and cutting-edge technologies, Mastercard’s partners will be able to build and securely scale new solutions.
By capitalizing on Mastercard’s global network and utilizing Microsoft 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. And through access to Azure technologies, augmented and virtual reality and Internet of Things, fintech partners can create new user experiences to advance how consumers, businesses and governments exchange value.
Mastercard’s Start Path program has assisted with the development of more than 230 fintech companies worldwide thus democratizing access to financial services. And building on that momentum, the collaboration will expand support for the fintech community by helping diversify and build new businesses along with creating and scaling new cloud-first digital products and services.
Mastercard and Microsoft are sharing a commitment to ensuring people in underserved communities have access to digital products and services to realize their full potential. And the collaboration will advance Mastercard’s vision to improve the lives of people by building pathways to financial security and access to critical services.
The Microsoft Azure cloud environment will serve as the native infrastructure for Mastercard Labs’ inclusion efforts and support Mastercard Community Pass — which is a platform that pulls together complex ecosystems and provides underserved communities with access to essential services such as education, agriculture marketplaces, and basic healthcare. And Microsoft Azure provides Mastercard — and the ecosystems they jointly serve — with a scalable and flexible platform imperative for establishing secure connections and protecting data, co-innovating with partners, and delivering access to financial services.
KEY QUOTES:
“We are thrilled to deepen our longstanding relationship with Microsoft by advancing the research, development and scaling of new technologies and business models. 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.”
— Ken Moore, executive vice president and head of Mastercard Labs
“Mastercard’s commitment to innovation and financial inclusion has accelerated digital commerce for individuals and businesses around the world. We look forward to building on our strong relationship and accelerating co-innovation to help connect and power a digital economy for everyone, everywhere.”
— Judson Althoff, executive vice president of Microsoft’s Worldwide Commercial Business
