Debuting on the first-ever Fortune Future 50? Now that’s priceless. Coming in at No. 14 Mastercard has been recognized as a leader on this new ranking that looks at the world’s forward-looking, innovative companies that are best set up for the future.
The Fortune Future 50 has cited the digital payment giant for its work with biometric technology; the enormous opportunity it sees in turning every device into a connected device; and gives a nod to its financial inclusion efforts: “As for the billions of people around the world who still deal exclusively in cash, the company views them as potential future Mastercard customers.”
Mastercard prides itself on pushing boundaries and borders through innovative, digital-payment technologies. And its passion for innovation and drive to make the world an easier, safer and more inclusive place is not contained in one mind, one hallway or even one department. It is everywhere and with everyone who comes to work at Mastercard. Here’s a look at the company’s latest efforts:
- The Biometric Card: Building on its pioneering work to leverage biometric technology for online payments, this year Mastercard launched a next generation payment card that uses your thumb or fingerprint to authenticate purchases you make in physical retail environments.
- Commerce for Every Device: The IoT has given every connected device the opportunity to become a payment device. Mastercard payment technology is embedded in, among other things, fitness bands, gas pumps, vending machines, smart mirrors in dressing rooms, cars, shared workspaces such as WeWork and Softbank robots, like Pepper.
- A Purpose-Driven Cashless Society: Mastercard is also focused on financial inclusion initiatives. The company has a commitment to bring 500 million new consumers into the financial mainstream by 2020 through advanced technology solutions, like 2Kuze, a digital platform that enables farmers in East Africa to buy, sell and receive payments for agricultural goods via a feature phone. Since its launch, the platform has also expanded to Tanzania under the name eKilimo in partnership with National Microfinance Bank.
The full Fortune Future 50 list is available here and will appear in Fortune’s November 1 issue.