MasterCard has announced the first seven European startups that will further develop ecommerce solutions as part of its inaugural MasterCard Start Path accelerator programme.

The startups were selected after a selection process that saw applications received from startups in more than 30 countries.

Each of the startups chosen will work with MasterCard for a 12-month period. For the first four months they will be based onsite at Mastercard in Dublin, and for the next eight months they will work remotely to solve business challenges, while benefitting from direct access to key strategic Mastercard partners.

The inaugural Start Path companies include mobile banking firm Instabank, secure authentication specialist MePin, mobile identity firm MoQom, cloud ticketing company Ridango, STOREE, which enables traditional businesses to sell online, Xpreso, which has developed a SaaS-based delivery system, and loyalty redemption outfit ZenCard.

Stephane Wyper, MasterCard Start Path global lead, said: “We’re looking forward to rolling up our sleeves with the companies to tackle immediate challenges as they scale their business, by connecting them directly with subject matter experts from across MasterCard and the global partners we work with.”

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