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Beyond the Transaction: Every Transaction Has a Story
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Coding Toward a Commerce Revolution at Money20/20

At Mastercard, our developers like our technology to be everywhere – in the palms of consumers in an increasingly IoT world who are transacting from a device of their choice. That’s why we’re arming today’s Money20/20 hackathon participants with our Mastercard Developer API platform with the goal of increasing our footprint in two emerging trends: person-to-person payments and unattended retail through vending.

Flickr Photo: Vending Machine APIThe challenge is straightforward – leverage our Mastercard Send P2P API or our Vending SDK to streamline an existing commerce process or develop a brand new solution altogether. Incorporate both (you’ve got 24 hours to get the job done!) and we’ll be on the edge of our seats. Here’s why:

Person-to-person payments are exploding. The global volume of P2P payments is more than $1 trillion, with just a slice of those transactions being done through mobile phones. There’s a huge opportunity for developers to use Mastercard Send that is designed to enable consumers to send and receive digital payments conveniently, immediately and securely through any device. In other words, pay a babysitter, split lunch or contribute to a wedding gift for a coworker using the mobile phone that’s already in your hand. Because as the mobile and social ecosystems are changing how we interact, we want to make sending money as easy as posting a tweet.

Vending experiences and unattended retail are taking the world by storm. Globally, 61 percent of consumers say they would be willing to shop in a completely automated store with kiosk stations using virtual service. 52 percent say they actually prefer self-service stations to avoid waiting in lines, already triggering brands like L’Oreal and Best Buy to place unattended sales stands in high-traffic areas like airports. Imagine the possibilities that incorporating vending capability into a mobile application could have on commerce. If using an app to locate a machine, gamify loyalty and rewards, and pay for items within it doesn’t deliver consumer independence, we’re not sure what will.

Whether you’re participating in the hackathon or want to join us on our mission to develop commerce innovations of any kind, head over to the Mastercard Developer API platform to see our full suite of APIs. We look forward to watching developers everywhere build, scale and enable payments on new platforms one great idea at a time.