In December, MasterCard Brazil held the first Digital Commerce SHIFT Challenge with 15 entrepreneurs showcasing their Fintech startups for a chance to win R20,000 reals in prizes. The challenge was MasterCard’s first competition in Brazil where local entrepreneurs and innovators could propose and create solutions that could potentially disrupt how Brazilians shop and pay.
To see a video of the event, click here.
The three finalists of the challenge included BoxBuy, a multiplatform interactive shopping cart, Diin, a virtual environment that allows parents to take control over their children’s online spending and Piggo, a platform that solves the problem of lack of change in commercial establishments in a simple and practical way.
“We were thrilled with the ideas and innovation brought to the table by Brazil’s thriving technology ecosystem, as we want local entrepreneurs to work with us in this transformation of the ecommerce payments space,” says Marcelo Theodoro, senior director of digital products of MasterCard Brazil and Southern Cone. “As e-commerce in Brazil continues to grow, we want to have an active role in fueling the next generation of innovations that can improve consumers’ digital shopping experience.”
Moving forward, MasterCard will continue to work with the local tech community in Brazil. In fact, in 2015 the Masters of Code global hackathon will make a stop in the country as part of its global competition.