MasterCard has raised the stakes for developers participating in the Money20/20 hackathon by chucking in a VIP Las Vegas experience and six-month access to its Startpath incubator programme for the winning team.
Taking place over 24 hours between November 1-2, the Money20/20 Hackathon brings together developers, designers and entrepreneurs to build innovative fintech applications using APIs, SDKs and other tools from sponsor organisations, including MasterCard, PayPal, and Intuit among others. The top ten teams selected by the judging panel will share in a $125,000 cash pot.
MasterCard has now upped the ante for participants by offering an additional prize package, including deluxe accommodation at the MGM Grand Hotel & Casino, an extravagant dining experience at the Michelin three star Joël Robuchon Restaurant, spa treatments and VIP gift bags. To qualify, developers must create consumer apps that take advantage of MasterCard's MasterPass and Simplify Commerce APIs.
In addition to the luxury Las Vegas pampering, MasterCard will also provide the winning team with six months of operational mentorship from the MasterCard Start Path incubation unit to help shape their ideas, and free access to all MasterCard APIs and free processing via Simplify Commerce for the first $250,000 in transactions for 12 months.
Mario Shiliashki, SVP of Open API at MasterCard, says: “MasterCard has transitioned from a payments company to a technology company focused on building the operating system of digital commerce. Part of that transformation is reflected in the partnerships with multiple new digital players and the close collaboration we seek with developers and startups.”