MasterCard Raises the Stakes for Money 20/20 Hackathon in Las Vegas

As one of the lead sponsors of the 2014 Money 20/20 Hackathon, MasterCard is intent on making one team’s participation Priceless. In addition to the fantastic cash prizes already offered by the Money 20/20 organizers for the 10 winning Hackathon teams, the winning team of the MasterCard Challenge will be treated to a Priceless Las Vegas Experience package, including deluxe accommodations at MGM Grand Hotel & Casino, an extravagant dining experience at the Michelin three star Joël Robuchon Restaurant, spa treatments and more. The winners will also be able to take advantage of a set of business services, including payment processing to accelerate the development and launch of their product.

As one of the lead sponsors of the 2014 Money 20/20 Hackathon, MasterCard is intent on making one team's participation Priceless. In addition to the cash prizes already offered by the Money 20/20 organizers for the 10 winning Hackathon teams, the winning team of the MasterCard Challenge will be treated to a Priceless Las Vegas Experience package, including an extravagant dining experience at the Michelin three star Joël Robuchon Restaurant. (Photo: Business Wire)

Taking place over 24 hours between November 1-2 to open the 3rd annual Money 20/20 event, the Money 20/20 Hackathon brings together hundreds of talented developers, designers, entrepreneurs and startups to compete in building fintech applications using APIs, SDKs and other tools from 10 of today’s biggest innovators in Payments and Financial Services, including MasterCard.

The MasterCard Challenge winning team will be selected for the best use of one of two featured MasterCard APIs: MasterPass and Simplify Commerce – in a consumer experience using hardware or software tools (e.g. wearables) in any shopping context such as point-of-sale, kiosks, vending machines, parking lots, cars and toll booths. Immediately following the Hackathon, the winning team will enjoy the following Priceless Las Vegas Experience that offers both recovery and revival from the intensive 24-hour hackathon:

• One-bedroom suites at MGM Grand Hotel & Casino
• Delicious dining experience on Sunday night at “Chef of the Century” Joël Robuchon Restaurant
• Spa appointments at MGM Grand Spa
• Gift bags with Priceless Surprises
• $75 vouchers to cover airlines ticket rebooking charges

In addition to appealing to the competitive and creative zeal of developers, MasterCard will also provide the MasterCard Challenge winning team with unmatched business support and incentives. First, the team will receive six months of operational mentorship from the MasterCard Start Path incubation team to help shape their idea from concept to scalable reality. Second, the team will get access to all MasterCard APIs and free processing via Simplify Commerce for the first $250,000 in transactions for 12 months.

“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,” said Mario Shiliashki, Senior Vice President of Open API at MasterCard. “Our goal is to give seamless, real-time access to MasterCard’s products and services and our powerful network, so developers can use our APIs to build the next set of success stories around the world.”

MasterCard Open API and the Developer Zone at developer.mastercard.com are the access points to connect to the incredible data resources, state-of-the-industry products and services and the unrivaled security of the world’s largest and only truly global payments network – MasterCard.

About MasterCard

MasterCard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.

Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20141023006440/en/