Mastercard Start Path is offering a new Security Solutions program designed to support startups that are developing technologies in “cybersecurity, fraud mitigation, digital identity, and payment resiliency.”
OneID, Scamnetic, Spec, VanishID, and Shield-IoT are “the first startups to participate following a global application and vetting process.”
This program is the extension of Start Path, Mastercard’s global startup engagement arm, which offers some support for for startups to scale innovative solutions in “specialized areas such as blockchain, digital assets, emerging fintech, open finance, small business, acceptance and more.”
Since its inception in 2014, Mastercard Start Path has welcomed over 475 startups across more than 60 countries – many of which are “entering public markets, reaching unicorn status, and exploring extended commercial engagements with Mastercard and its customers. ”
Start Path’s Security Solutions program supports Mastercard’s broader commitment “to securing the digital economy.”
Since 2018, Mastercard has invested more than $10.7 billion in cybersecurity innovation, with “a portfolio including value-added services, strategic acquisitions and partnerships, and fraud prevention technologies.”
As new threats emerge and the cost of cybercrime continues to climb — anticipated to reach $15.6 trillion by 2029 — Mastercard is expanding Start Path to help adaptable businesses accelerate how they identify and respond to security challenges.
The startups:
From AI-powered threat detection to IoT security to identity solutions, these startups are tackling some of the “most urgent challenges facing consumers, businesses, and governments today.”
OneID is a digital identity assurance technology that uses bank-based verification methods to provide a document-free way to verify customer credentials securely.”
Scamnetic provides patented, AI scam-detection technology that detects and prevents a wide range of scams — “from phishing to deepfakes — helping protect consumers in real time.”
Spec invisibly monitors the entire customer journey “during a digital transaction to help brands detect and stop fraud, bots and abuse in real time and on a global scale.”
VanishID helps enterprise security teams “protect their employees by finding and removing exposed personal data publicly accessible online.”
Shield-IoT secures mass-scale IoT networks, “providing merchants with visibility, threat management and compliance for their cellular-based payment devices.”