Mastercard has been listed at position 14 in Fortune Future 50 and also recognized as a ‘leader’ on the ranking that looks at the world’s forward-looking, innovative companies that are best set up for the future.
The Fortune Future 50 cited Mastercard for its work with biometric technology; the enormous opportunity it sees the company has in turning every device into a connected device and also given a nod to Mastercard’s financial inclusion efforts.
“Mastercard wins in a cashless world. And the credit card giant has been aggressive in ensuring that, even in an era of digital payments and cryptocurrencies, it stays that way. Mastercard bills itself as a global payments and technology company (it launched facial recognition–enabled “Selfie pay” in 2015), and it sees enormous opportunity in our increasingly connected world. The company’s tech is embedded in cars, gas pumps, vending machines, SoftBank robots, and just about every conceivable online device. As for the billions of people around the world who still deal exclusively in cash, the company views them as potential future Mastercard customers,” states the the Fortune Future 50 citation.
“Mastercard prides itself on pushing boundaries and borders through innovative, digital-payment technologies. And the tech company’s passion for innovation and drive to make the world an easier, safer and more inclusive place is not contained in one mind, one hallway or even one department. It is everywhere and with everyone who comes to work at Mastercard,” noted a statement issued by Mastercard.
Here’s a look at the company’s latest efforts:
- The Biometric Card: Building on its pioneering work to leverage biometric technology for online payments, this year we unveiled a next generation payment card in South Africa that uses your thumb or fingerprint to authenticate purchases you make in physical retail environments.
- Commerce for Every Device: The IoT has given every connected device the opportunity to become a payment device. Our payment technology is embedded in, among other things, fitness bands, gas pumps, vending machines, smart mirrors in dressing rooms, cars, shared workspaces such as WeWork and Softbank robots, like Pepper.
- A Purpose-Driven Cashless Society: Recognizing our commitment to bring 500 million new consumers into the financial mainstream by 2020 through advanced technology solutions, like 2Kuze, a digital platform that enables farmers in East Africa to buy, sell and receive payments for agricultural goods via a feature phone. Since its launch, the platform has also expanded to Tanzania under the name eKilimo in partnership with National Microfinance Bank.
The full Fortune Future 50 list is available here and will appear in Fortune’s November 1 issue.