Applications for MasterCard N>XT hackathon now open to all developersTo tweet this news, please copy and paste bit.ly/1Aw7hsKTORONTO, Aug. 20, 2014 /CNW/ - MasterCard N>XT Developer Challenge, the first payment network hackathon which kicked off last year at the MaRS Discovery District, is now accepting applications from student and professional developer teams for its Retail Revolution themed challenge. This year the challenge to developers is to create a next-generation application to enhance the customer retail experience in-store and online. Garry Lyons, MasterCard's Chief Innovation Officer, will officially open the event at 9 a.m. on October 4th. The event will run until Sunday, October 5th, giving developers less than 48 hours to build their idea. The event will bring together some of Canada's most innovative companies and tech incubators, including Rogers, Moneris, CIBC, BMO, Samsung, Bionym and Ryerson Fashion Zone. More than $30,000 in prizing will be awarded to the top teams and all finalists will have the opportunity to pitch their idea to a roster of judges. "Innovation is in our DNA and MasterCard N>XT is an emblem of our commitment to supporting Canadian developers and made-in- Canada technologies," said Betty DeVita, President, MasterCard Canada. "Our hackathon goes beyond awarding stamina and ingenuity; it's about finding ideas we can bring to life and include in the next evolution of our business and the businesses of our partners." In 2013 MasterCard partnered with Tulip Retail, the professional category winners of the 2013 MasterCard N>XT Developer Challenge, to create a dynamic and digital activation for sports fans at the Air Canada Centre called The Priceless Toronto Zone. "The best part about participating in MasterCard N>XT was the opportunity to display our start-up's strengths in retail tech," said Ali Asaria, CEO, Tulip Retail. "MasterCard N>XT opened doors for us that led to real business opportunities and generated capital, which is most valuable as it allows us to grow our business." This year Simplify Commerce, an online payment system that enables businesses to quickly and easily accept payments from any channel, will be the featured API. Mentors from MasterCard, York University, University of Waterloo, ventureLab, Tulip Retail, Bionym and Microsoft BizSpark will be supporting the teams to help them develop their idea and polish their pitch. Learn more about this year's event and register for MasterCard N>XT here.About MasterCard MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardCAnws, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.