PUNE: Mastercard today announced the launch of its first Lab in India, which will work with partners in the fintech industry to identify and experiment with future technologies. The Lab will also support and work with startups developing next generation, breakthrough commerce solutions through Mastercard’s Start Path program.“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,” said Ken Moore, executive vice president, Mastercard Labs. By bringing together a team of passionate individuals from diverse cultures and disciplines, we seek to further accelerate and enhance our ability to launch innovations that help us improve the lives of everyday Indians and help them move closer to our vision of a world beyond cash.”The lab will drive innovation for Mastercard in India, through collaboration and co-creation with academia, fintech experts, technologists and developers based in India. It has worked with the National Payments Corporation of India ( NPCI ) and other payments brands to develop Bharat QR, the world’s first interoperable Quick Response (QR) code acceptance solution, as part of a national push to streamline local electronic payments infrastructure.

Source: Economic Times October 10, 2017 11:48 UTC