NEW YORK--(BUSINESS WIRE)--Xformative Payment Systems today announced that the company has been selected as one of 11 startups for the Mastercard Start Path program, which brings a global pool of innovators together to build the future of commerce. Xformative is the only cloud native issuer processor to be selected in the latest Start Path class from more than 1,500 applicant companies. Since 2014, Mastercard has invited more than 230 later-stage startups worldwide to participate in its six-month virtual program.
Mastercard Start Path, a program within the Mastercard Accelerate portfolio, offers startups operational support, access to its network of experts, and strategic investment. It was most recently winner of Tearsheet’s first annual Best Innovation Program Award. More information can be found at https://startpath.mastercard.com/.
“The Mastercard Start Path program provides Xformative with a tremendous endorsement, and ensures we are working on key strategic priorities for success, especially as the demand for card issuer products, programs and features is outpacing the abilities of some of the current providers,” said Xformative CEO, Brad Bialas. “Our goal is to tighten the gap so that financial institutions, benefit providers, and all other tech-enabled companies looking to embed financial services have a flexible choice.”
"In today's landscape where we're moving toward a post-pandemic world, there's no better time to take the plunge and build a business that will address some of the biggest challenges we're all facing," said Amy Neale, Senior Vice President, Start Path & Fintech at Mastercard. "Mastercard is proud to partner with Xformative on their journey to grow and scale and provide support and mentorship through the Start Path program."
Xformative’s payments-as-a-service software replaces traditional payments service models by leveraging true cloud-native, serverless, event-driven technology and a library of modular APIs that customers can configure to almost any use case. The platform hosts a suite of decoupled microservices, architected to enable and configure case-specific issuing, remittance, ledger accounting, reconciliation and disbursement solutions.
About Mastercard Start Path
Start Path is Mastercard’s award-winning startup engagement program that brings together a network of innovators from across the globe to shape the future of commerce together. Startups benefit from the knowledge of a global network of Mastercard experts, technologies and channels. Banks and merchants gain access to a global portfolio of elite startups to accelerate commercial products and solutions through collaboration. Launched in 2014, startups that started with Start Path have gone on to raise over $2.7B in capital investment.
Xformative eliminates limitations and empowers embedded financial services via its cloud-native issuer processor platform, architected with a unique suite of modular APIs that can be configured to almost any use case. Lead by an experienced team of technology specialists, Xformative is on track to process $3B in 2020 on its disruptive cloud-native issuer-processor platform. The company provides rapid and reliable scalability, expedites time to market, fills product gaps, and reduces operating costs by creating operational efficiencies, while offloading compliance liability. For more information, please visit www.xformative.com.