Mastercard unveils security-focused Start Path program

Mastercard has launched its Start Path Security Solutions accelerator aimed at supporting start-ups tackling cybersecurity, fraud prevention, digital identity and payment resiliency.

Following a competitive global selection process, five startups – OneID, Scamnetic, Spec, VanishID and Shield-IoT – have been chosen to join the inaugural cohort.

OneID is a digital identity assurance technology for a bank-based, document-free method of verifying customer credentials. “We wanted to create a simpler, more secure, and inclusive way — that was also entirely digital – to verify customers’ identities so users could access the services they needed more quickly,” says Rob Kotlarz, OneID founding director.

Scamnetic’s AI-driven technology detects and blocks scams, from phishing to deepfakes, in real time. Spec delivers end-to-end monitoring of digital transactions to identify fraud and abuse before funds are moved. VanishID finds and removes exposed personal data online to protect employees and enterprise security teams from targeted attacks. Shield-IoT protects large-scale IoT networks and devices such as payment terminals, EV chargers and connected vehicles, with an AI-powered SaaS platform for merchants.

The new program is the newest addition to Start Path, Mastercard’s venture engagement arm, which has supported more than 475 startups in over 60 countries since 2014. The addition of the Security Solutions program is a reflection of Mastercard’s intensified focus on safeguarding the digital economy as cyber threats surge.

Since 2018, Mastercard has invested over $10.7 billion in cybersecurity initiatives through acquisitions, partnerships and in-house developments. The company cites projections that cybercrime costs could reach $15.6 trillion globally by 2029, underscoring the need for rapid innovation and collaboration with agile security specialists.

“Security is the cornerstone of trust,” says Johan Gerber, executive vice president and head of Security Solutions at Mastercard. “It is essential to fueling digital commerce in an increasingly connected world, where new threats emerge all the time.

“By partnering with startup innovators who are already working to protect our ecosystem, we are accelerating co-creation and knowledge-sharing — shaping a safer, smarter digital future.”

In recent months, Mastercard has enhanced its cybersecurity portfolio with the acquisition of Recorded Future, the world’s largest threat-intelligence company. The company also collaborates with organizations like the Global Anti-Scam Alliance to extend protection across sectors and regions.

Through Start Path, the selected start-ups can leverage Mastercard’s infrastructure, commercial relationships and network of experts.

Article Topics

accelerator program  |  cybersecurity  |  digital identity  |  fraud prevention  |  Mastercard  |  Mastercard Start Path Security Solutions  |  OneID  |  startup