Digital Innovations Bump Mastercard Up Innovation Rankings

Mastercard has suggested that its efforts in digital money were a factor in improving its ranking on Forbes’ annual World’s Most Innovative Companies list.

Mastercard is once again on Forbes’ annual list of the World’s Most Innovative Companies. And what’s more, it has moved up six spots from last year’s ranking, taking the 30th spot. Digital Innovations Bump Mastercard Up Innovation RankingsIn a statement acknowledging the ranking, the company suggested that its efforts in digital money were an important factor driving it up the rankings, and highlighted some key examples.

One is Mastercard Identity Check, a mobile biometric authentication system that the company developed with Daon. It lets users confirm their transactions via selfie, using facial recognition to verify that they are authorized cardholders at the time of purchase.

Another key effort is Masterpass, the company’s digital wallet solution. It’s designed to let users make payments across all digital channels, and could even prove to be a serious rival against major mPayment platforms like Apple Pay and Samsung Pay.

Together with other innovations like aid donation system Mastercard Aid Network and online shopping system Groceries by Mastercard, these efforts seem to be helping the company stay ahead of the digital and mobile revolutions sweeping across the financial services sector.