News: Finalists will have to create their innovation using MasterCard APIs.
After a 10 month long search MasterCard has selected winning developer teams from 12 regional events for the finale of MasterCard’s global hackathon in San Francisco on December 4th and 5th.
The winning team will receive $100,000 in prize money to develop and commercialise their breakthrough.
Apart from monetary benefit, the winning team will also be entitled to attend the next MasterCard Start Path boot camp in Singapore for a week, and free payment processing for up to $250,000 in transactions for the first 12 months using Simplify Commerce.
The winner will also be mentored by a member of the MasterCard Open API executive team.
The company hosted regional weekend-long events at several cities including Hong Kong, Montreal, New York and Istanbul where it asked 3,000 of the world’s top coders, developers, designers and entrepreneurs to create new consumer payments solutions using MasterCard APIs.
The regional level winners will be flown to Silicon Valley to compete in the Grand Finale of Masters of Code hackathon.
The company recently held the ‘Connected Cities’ battle in London, where the winning team, ‘All of Us’, who created a journey-planning app using real-time public transport intelligence and integrated payment functionality to provide urban pedestrians and commuters with an easy way to travel from one point to the other.
MasterCard said that the winning team will be evaluated on the basis of their innovation’s impact, design, creativity, simplicity and usage of MasterCard APIs.
The panel of judges for the grand finale includes MasterCard Simplify Commerce global platform lead Debbie Barta, Consult Hyperion director Dave Birch, Allegis Capital general partner Jean Louis Gassee amongst others.
MasterCard Open API chief developer evangelist Sebastien Taveau said: "We approached this series looking for the best developers and that is exactly who we have found.
"At MasterCard, we opened our APIs to see what they are inspired to create next and promote financial inclusion globally."