Tippy, a digital tipping platform, has been selected to join Mastercard Start Path, an award-winning program for fintechs. Mastercard evaluates nearly 1,500 startups annually for possible participation in Start Path. Less than two per cent of applications are accepted into the 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 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 tools”, said 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”.
Mastercard will work with Tippy to grow its footprint in other fintech-oriented 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, cofounder and CIO at Tippy. “And with tools like QR codes and Mastercard’s Click to Pay, our presence in the tipping space will flourish.”
