The pace of innovation and advances in technology over the past decade have made the payments space an entirely different landscape than it was ten years ago. 

So, what will the next decade bring? Mastercard published a report this week in conjunction with its Start Path program, laying out what it says are the top five fintech trends to watch across the globe.

The report highlights emerging companies that demonstrate the trends in each geography. It includes PaymentFacilitator partner Infinicept to illustrate the top trend the company sees for North America: startups that are “enabling any company to become a fintech company.” 

“Start Path portfolio company and Denver-based Infinicept provides a suite of automated services and APIs which allow companies to become payment facilitators. This means that businesses can own, manage and monetize their entire payments experience without building an in-house system from scratch,” the report said. 

In the U.S., it said, startups are using APIs to enable other companies to build financial services products, resulting in companies “bundling FinTech into their platforms.” Its examples also included San Francisco-based Bond, which connects banks with companies that want to offer financial services, and New York-based Sure, which enables companies to offer insurance products. 

The report describes Europe as a “hotbed of FinTech activity,” thanks to a regulatory environment that includes open banking and PSD2. Successful startups there are now looking to move into new geographies, it said.

The Asia Pacific region features a rising middle class and widespread internet access through mobile devices, which is enabling innovative financial services to take root, the report said. This has led to the rise of several “super apps” such as Grab and Go-Jek, where platforms are expanding well beyond their origins to offer financial services.

In Latin America and the Caribbean, the report said that startups are focused on lending to underserved consumers and small businesses, particularly in areas without well-developed financial service infrastructure.

And finally, the report said that in the Middle East and Africa, fintech startups are enabling payments, capitalizing on the region’s extensive mobile phone penetration. In Africa, some of these companies – including PF Flutterwave – are looking to expand financial inclusion with mobile-based payments infrastructure.

Mastercard produced the report in partnership with CB Insights.