HYPR joins Mastercard start path programme
06 December 2017 16:27 GMT

Authentication solutions firm HYPR has announced today that it has received strategic investment from Mastercard and has been named to the latest class of Mastercard Start Path – a global initiative to support innovative companies with the potential to reshape the future of commerce to achieve scale.

Coming on the heels of HYPR’s recently announced Series A funding round of $8 million led by RRE Ventures, the firm said Mastercard’s strategic investment further enables HYPR’s decentralized authentication solutions to extend into the millions of users across the Mastercard payments ecosystem.

With 30 billion devices connected to the Internet of Things (IoT) by 2020, ensuring they are secure and properly authorized when used to make a purchase is critical. HYPR’s decentralized authentication solution improves security and reduces the risk of an enterprise data breach by putting consumers’ credentials on the device itself instead of in a central database.

This approach provides consumers with greater security and usability during payments in the digital age. It also has applications for online banking, merchant services, connected cars and other IoT initiatives.

“The importance of secure authentication has never been greater,” said Roman Kadinsky, COO of HYPR. “Working with Mastercard allows us to bring our decentralized authentication systems to more devices and payments across the IoT.”