Fintech Major Mastercard Launches Its First Innovation Center In India

Thursday, October 12, 2017

Amid increasing number of payment portals and fintech startups in India, US-based fintech company Mastercard has announced the launch of its global research and development arm Mastercard Labs in Pune, India. After Singapore, this will be the second Mastercard Labs in Asia-Pacific, and ninth in the world. The initiative aims to bring and harness new commerce, payment and technology ideas at a fast pace in the country.

Speaking of the Mastercard Labs’ India-launch, Ken Moore, EVP, Mastercard Labs said, “Learning, innovation, and collaboration cannot exist in isolation. The launch of the first Mastercard Labs in India is evidence of our commitment to designing solutions that drive commerce and create more inclusive societies around the world.”

The India Innovation Centre Mastercard Labs will join hands with other financial institutions and merchant partners to identify and ideate futuristic digital payment solutions, to better safety and security.

Photo courtesy of Simone McCourtie.

Source: Inc42 (link opens in a new window)

financial inclusion, fintech