Mastercard and TBR Lab partner to supercharge fintechs success | Loop Jamaica

The content originally appeared on: Jamaica News

Mastercard has teamed up with TBR LAB by Tech Beach Retreat to radically transform the digital landscape of the Caribbean and emerging markets through a two-year partnership that will help fintechs throughout the Caribbean.

Running until 2022, applicants will benefit from Mastercard’s industry experience through virtual sessions led by its representatives. TBR LAB developed this robust Accelerator Programme, designed to equip the most promising startups in the Caribbean with the necessary access and resources for a successful trajectory.

“As the fintech ecosystem continues to evolve and diversify, we are very excited to be part of this partnership with TBR LAB that will create new opportunities for startups and digital players to unlock the region’s potential for economic growth, using technology as an enabler for innovation in payments”, said Dalton Fowles, Mastercard’s Jamaica and TTO Country Manager.

With this partnership, Mastercard strengthens its local support for digital players and merchants seeking to embrace simple and secure financial payments services. In addition, the opportunity to unlock potential with the region’s fintech partner of choice becomes more of a reality for players of any size.

Icelsa Diaz, Mastercard’s Fintech and Digital Partnerships Manager for the Caribbean said: “Startups from around the world are developing niche technologies that are making life simpler and more convenient, but they struggle to find the right partner that can guide their solutions farther. Participating startups and fintech’s from the TBR programme will benefit with a tailored programme, leveraging Mastercard’s leadership and expertise in fintechs throughout the Latin American and Caribbean region.”

Each programme will evaluate each participant’s evolution and milestones through an eight-week run, and they will be included in the TBR Virtual Summit, to be announced later this year.

Kirk-Anthony Hamilton, Co-Founder, Tech Beach Retreat added, “We are pleased to onboard Mastercard as an official partner for TBR LAB. As a global leader in payments, Mastercard provides the necessary infrastructure, access, and know-how to support our regional startups as they aspire to scale. We firmly believe FinTech provides the strongest opportunity to lead our market into the digital revolution and so we’re proud to offer our platform and support Mastercard’s mission to drive increased financial inclusion across the region. In addition, we look forward to the doors this will open for Caribbean entrepreneurs.”

The fintech landscape is experiencing tremendous growth and more people are benefitting from the digital economy than ever before. According to Mastercard’s Start Path Quarterly Report, 2021 has been the strongest year for fintech intermediary funding. Fintech intermediaries, companies that use new technology to offer modular financial capabilities to brands and enterprises to embed financial services in their customer offerings, have seen $2.66 billion in investments to June 2021 – that’s already 90 per cent of all of 2020.