MasterCard-Backed Catalyst Launches as the World’s First Dedicated Payments Incubator

The UK’s Emerging Payments Association (EPA) has announced the launch of the Catalyst, an incubator dedicated to early stage payments companies.

Backed by leading payment firms MasterCard and The Bancorp, the Catalyst aims to help scale 25 businesses by providing young entrepreneurs with access to investors, mentors and commercial partners.

Commenting on the initiative, Scott Abrahams, Head of Acceptance and Emerging Payments, at MasterCard, said:

“Startups within the payments industry often find it difficult to find the right level of guidance, education and support to help them develop their businesses. It is therefore refreshing to find this type of business guidance at the Catalyst and MasterCard is keen to lend its support.”

Scott Abrahams, Head of Acceptance and Emerging Payments, at MasterCard

According to David Hunter, Advisory Board member of the EPA, the payments industry is “highly complex, rapidly changing, difficult to enter and it’s easy to get it wrong.”

“Access to an established network of like-minded payments professionals and a fee-free package that takes the risk – and angst – out of being a fintech payments entrepreneur is a winner for our ‘Rising Stars’,” he said in a Read more ... source: Cointelegraph