- Fintechs like Brex, Dave, MoneyLion, and SoFi have all switched from Visa to Mastercard to power their payments.
- Mastercard formed a new fintech-focused team in February led by Sherri Haymond, executive vice president of digital partnerships.
- Part of Mastercard’s draw, the fintechs said, is that it treats fintechs like any major enterprise client, with bespoke product strategies and consulting-like collaboration.
- Both Mastercard and Visa have platforms just for fintechs up and running on their payments rails.
- The networks don’t differ materially in terms of where they can process payments. So courting fintechs often comes down to what the networks offer beyond that.
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When personal-finance startup Dave was considering switching its card issuer for a new product, the pitch from Mastercard came straight from the