Mastercard has made an investment in On Me, a startup launching a digital-focused gift card product. The company received $1.7 million in funding from investors including Lerer Hippeau and Mastercard, aiming to disrupt the $200 billion gift card duopoly.
This strategic investment allows Mastercard to engage with emerging innovations in the gift card industry. By supporting On Me, Mastercard positions itself to explore new payment solutions and potentially integrate them into its ecosystem.
The move aligns with Mastercard's broader strategy to expand into new payment flows and value-added services. Participating in the growth of innovative startups can provide Mastercard with insights into evolving consumer preferences and market trends.
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