Brazilian Startup Selected for Mastercard Acceleration Program

Payface, a Brazilian facial recognition payments startup, was one of nine chosen for Mastercard’s “Start Path”, the card company’s acceleration program. It was the only Latin American company selected in this edition of the project.

Founded in Santa Catarina, fintech’s proposal is to improve the retail shopping experience using facial recognition technology. The user registers his face in the application, and at the time of purchase, he stands in front of a device at the establishment’s cashier, which makes his identification without cell phone or card.

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During the six months with Mastercard, Payface will have access to the card giant’s technology, mentorship and resources. “We want to leverage Mastercard’s global network to directly engage with consumers, gather feedback on geographic expansion and relevant market dynamics, and receive guidance on product viability,” says Eládio Isoppo, CEO and co-founder of Payface.

With almost three years in the market, the startup already has projects implemented in six Brazilian states, including São Paulo and Minas Gerais. “The news demonstrates how dedicated and capable we are to face the adversities of the payments market, an extremely disputed and constantly growing sector, and also certifies how our biometric technology is a strong trend for the future”, adds Ricardo Fritsche, CTO and co-founder of fintech.

“We have partnered with fintech companies from the start and evolved the Mastercard Developers portfolio with programs like Start Path to support companies like Payface on their journey to grow and scale,” concluded Amy Neale, Senior Vice President, Fintech & Enablers. from Mastercard.

The company’s CEO, by the way, is one of the names already confirmed for the third edition of Future of Money, Then24.com’s event that will discuss the future of money with big names in the Brazilian and international markets, whose registration is free.

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