The program is designed to help fintech start-ups around the world and since inception 3000 companies have applied but only 11 are selected each year.
OpenSparkz helps streamline loyalty programs offered by companies to their consumers and provides immediate data to companies left by the consumer.
OpenSparkz chief executive Terry McMullen said the program would project the company forward and open doors for the business.
“It’s extremely tough to get into but well worth it – only 40 start-ups have been accepted globally from over 3,000 applications since the program launched in 2015, and OpenSparkz is just the fourth Australian company to be accepted,” he said.
Mr McMullen said the real benefit is the opportunities in Asia that have come about thanks to Mastercard.
“The real benefit for OpenSparkz so far has been the opening up of new business opportunities throughout Asia,” he said.
OpenSparkz has also been accepted into Oracle’s Scale Up Ecosystem which provides access to cloud services around the world.
The company is currently in the process of raising US$3 million after going offshore to obtain its first seed round of $1 million.