The world of finance is newly awash in fintech — the financial software services that leverage state-of-the-art technologies — and MasterCard is jockeying for a larger market share.
Many startups are banking on fintech, a term comprising "finance" and "technology" that has become a buzzword. The new sector is raking in billions of dollars and may be viewed as a threat by some established financial institutions.
MasterCard sees fintech as an opportunity for investment and partnership to expand its electronic payment network worldwide.