The world of finance is newly awash in fintech ¡ª the financial software services that leverage state-of-the-art technologies ¡ª and MasterCard is jockeying for a larger market share.
Many startups are banking on fintech, a term comprising ¡°finance¡± and ¡°technology¡± that has become a buzzword. The new sector is raking in billions of dollars and may be viewed as a threat by some established financial institutions.
MasterCard sees fintech as an opportunity for investment and partnership to expand its electronic payment network worldwide.
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