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Payments General

Mastercard launches first innovation Lab in India

Wednesday 11 October 2017 | 12:05 PM CET

Mastercard has announced the launch of its first Lab in India, as a part of its purpose of reinforcing the country’s digital journey.

The Lab will be established in Pune and will bring new commerce, payment and technology ideas to life. It is the company’s ninth lab launched so far and the second one in Asia Pacific (following Singapore).

Mastercard Labs will work with financial institutions, merchant partners and the fintech community to identify and experiment with future technologies in a few key areas including digital payments, data solutions, financial inclusion, alternative payments and safety and security. The Lab will also support and work with startups developing next generation ecommerce solutions through Mastercard’s Start Path program.

The Lab will be a key innovation engine for the country and foster collaboration and co-creation with academia, fintech experts, technologists and developers based in India. It will identify and experiment with future technologies and drive new concepts and innovations through incubation, proof of concept, pilot and commercialisation.

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