By ST Staff
May 13, 2021
Mastercard Start Path Program Selects Tippy to Grow Fintech Solution for Service Industry Professionals
Tippy, the revolutionary digital tipping platform, recently announced it has been selected to join Mastercard Start Path, an award-winning program for fintech innovators.
Annually, Mastercard evaluates nearly 1,500 startups for possible participation in Start Path. Less than 2% of applications are accepted into the highly competitive six-month accelerator program.
As a point-of-sale solutions provider, Tippy has spent the last three years providing an opportunity for tens of thousands of salon and spa industry professionals to earn more income. The cashless solution instantly deposits tips into the service professional’s account while reducing significant processing fees for business owners. And using the robust application (available for download on IOS and Android devices), the industry professionals were able to increase their average tip income significantly.
“Our main focus and goals for our service professionals have always been higher tips, immediate access to funds and overall empowerment through new financial tool,” says David Tashjian, CEO of Tippy. “With Start Path, we have the opportunity to accelerate the growth of our platform by using support from Mastercard’s network of innovators and experts and leveraging the success we have had in the beauty industry. This program will be instrumental for us to move forward and be able to empower more by replicating the model in multiple verticals.”
“We’re excited to join the MasterCard Start Path! They share our vision to financially empower service providers, like stylists in the beauty industry,” says Terry McKim, CIO and founder of Tippy. “This program will allow us to provide additional Fintech tools and expand into more verticals in the near future.”
Mastercard’s Start Path already has been instrumental in helping Tippy expand its offerings, says Tashjian. “We recently completed new APIs (Application Programming Interface) and have received strong integration partnership interest from multiple points-of-sale in the beauty and spa industries. We are excited to share Tippy’s valued offerings on a grander scale. Keep you eyes out for more announcements and our first POS launch over the summer.”
Mastercard will work with Tippy to grow its footprint in other fintech-oriented (financial technology) verticals where tipping is an important source of income for its professionals, including hospitality, health/wellness, and tourism. Leveraging Mastercard’s resources and relationships, the tipping platform will now look to expand not only domestically but also internationally.
“As the fintech landscape evolves at an unprecedented speed, Mastercard provides the infrastructure and assets to help fintech innovators grow and ultimately bring more people into the digital economy,” said Amy Neale, Senior Vice President, Fintech & Enablers. “Through Mastercard Start Path, we’re partnering with Tippy on their path to scale and providing the technology, expertise and resources to help drive a more inclusive economy.”
Tippy recently completed a set of APIs allowing points-of-sale in each of its targeted verticals to integrate and offer Tippy’s solution on a much broader scale.
“We couldn’t be more excited about the partnership traction we’re having with POS’s in both the beauty space and other verticals,” said Terry McKim, co-founder and CIO at Tippy. “And with tools like QR codes and Mastercard’s Click to Pay, our presence in the tipping space will flourish.”
For more information about Mastercard Start Path, visit https://startpath.mastercard.com/.
ABOUT DirectTIPS: DirectTIPS is the parent company of Tippy, a digital tipping system built for service industry professionals by industry professionals. Tippy’s disruptive technology offers a suite of tools reducing business owners’ processing fees and improving service providers’ tips, helping them to meet and exceed financial goals. Tippy is headquartered in Fort. Lauderdale, FL and caters to a variety of sectors including beauty, hospitality and tourism. For more information, visit MeetTippy.com.