Mastercard has announced that it is collaborating with the tech giant Microsoft. The collaboration will see the companies push digital commerce, contribute to startup innovation, and enable financial inclusion.
As a part of the collaboration, Mastercard Labs will harness the power of Azure and AI to empower the innovations for platforms for digital commerce and commercialize emerging technologies. Access to Microsoft’s tech expertise will help the financial services company to accelerate Mastercard Labs’ cloud-native research and development too.
Ken Moore, executive vice president and head of Mastercard Labs said: “This strategic collaboration will strengthen and extend our cloud services and capabilities for clients and fintech partners, sparking innovation and creativity for the ecosystem. It will enable us to explore opportunities focused on new client segments, technologies and trends as we continue to drive financial inclusion and build the future of commerce.”
The collaboration will also help Mastercard’s partners who will be able to explore new commerce capabilities and look into new emerging innovations. The fintech partners will be poised to create new user experiences with access to Azure technologies.
The collaboration between the Mastercard and Microsoft will also place special emphasis on helping the underserved communities by helping them access digital products and services. For this, Azure cloud will work as the native infrastructure for Mastercard Labs’ inclusion efforts.