HYPR, a provider of credit card authentication solutions for corporations, announced news on Wednesday (Dec. 6) that it received a strategic investment from Mastercard and has been included in the payment company’s latest Mastercard Start Path class. The program is a global initiative aimed at helping companies that have the potential to transform the future of commerce.
In a press release covered by Finextra, HYPR said that Mastercard’s strategic investment enables HYPR’s decentralized authentication solutions to extend to the millions of users across the Mastercard payments ecosystem. According to the company, with 30 billion devices expected to be connected to the internet by 2020, there needs to be a way to secure and properly authorize them when they are used to make a purchase. The company’s solution improves security and lowers the risk of a data breach at an enterprise by putting consumers’ credentials on the device instead of a central database.
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