MASTERCARD
2015 . Its Test and Learn product helps companies tailor investments and maximise bottom-line impact by harnessing analytics to design , measure and calibrate marketing , merchandising , operations and capital initiatives .
Start Path Acquisition is not the only route Mastercard has taken with partner companies , however . The Start Path programme provides initial support in start-up technology companies , whether it be capital , mentorship or office space to help them get off the ground .
As part of the programme , companies interested in working with Mastercard apply for the different cohorts . Mastercard selects companies from those applicants and partners with them to help them scale up operations . By granting start-ups access to its global ecosystem and customer bases , it is also widening its own knowledge base in the process , as well as offering another way to infuse innovative thinking into the organisation .
Features of the initiative include a six-month virtual programme and two immersion weeks in different Mastercard cities , with no commitment required of the start-ups to offer equity in return . Mastercard employees from different disciplines help mentor the companies , as well .
Honing talent Alongside the shift in consumer behaviour to digital payments has been a shift in Mastercard ’ s internal approach to technology and innovation , with tremendous emphasis on gearing the company towards younger recruits .
“ The largest part of our workforce today is made up of millennials , so it ’ s key to make sure our workforce is aware of how quickly things are changing in technology , so we are best positioned to take advantage of new opportunities ,” Reeg says .
“ There ’ s no way of saying how many members of our team work in innovation , as we are all responsible for it at Mastercard . Maybe 15 years ago you could separate technology or innovation people from others in
54 October 2016