January 13, 2015
The payments industry is being presented with numerous innovations driven by startups. The new companies in the payments arena are working hard at disrupting the entire payments ecosystem. A number of startups have emerged in recent times challenging the established players. The traditional reaction by incumbents such as banks and credit card companies had always been to play defense. But now times have changed and it’s wiser to create fruitful partnerships.
Let’s Talk Payments has tracked the funding received by the 42 most popular payment companies operating in the payments space and found the total investment received by these companies to be $1341 Mn. This itself is proof that startups are indeed offering that differentiator in the payments space that incumbents need to leverage.
Here are some prominent partnerships that incumbents should really look into:
MasterCard partnered with Behalf
Behalf is a venture capital backed startup which provides lending service to smal ...