MasterCard is teaming up with The New School’s Parsons School of Design to bring a forward-thinking, design-led approach to payments technology.
In a Fashion and Design Hack sponsored by the two organizations, teams of students will compete to develop solutions and build prototypes for connected commerce by embedding payments functionality into products, new designs or concepts.
The engagement with Parsons’ design students pushes forward MasterCard’s vision to bring to consumers a new generation of connected commerce experiences. Consumers saw some of the possibilities in the forms of connected key fobs, a payment-enabled dress and other smart accessories late last year when MasterCard introduced its Commerce for Every Device program.
The program aims to enable commerce on a wide array of consumer products across automotive, fashion, technology, wearables, and yet to be imagined categories. This gives consumers the freedom to shop using the device or thing that is most convenient to them, with the highest level of security available. With the hack, MasterCard welcomes a new generation that thinks differently about its money to innovate on this theme.
The teams of three students each were selected through a competitive submission process at Parsons and will compete for $15,000 in prize money and an opportunity to showcase their creations at leading MasterCard industry events.
The day-long Fashion and Design Hack will take place at The New School’s University Center, in New York City, on Saturday, March 5, and students from the fashion, industrial design, product design, data visualization, and design and technology programs will participate.
The hack builds on MasterCard’s efforts to find, develop and launch new commerce applications for a generation that thinks differently about money and payments. Aware that new ideas can come from anywhere, MasterCard has founded and supported programs such as Girls4Tech, the company’s education program that showcases our payments technology and engages employees as role models and mentors, and Masters of Code, a hackathon that was developed to challenge developers to create the next big application using MasterCard’s APIs.
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