Partnerships are showing results says CEO
MasterCard has noted the growing impact of its partnerships with governments and telecommunications companies to increase financial inclusion.
“I am pleased to report that our financial inclusion initiatives are having a meaningful impact,” said Ajay Banga, MasterCard president and CEO. “This year alone, we have launched nine programs in tandem with government entities and other partners in emerging markets which are designed to bring much needed financial access, convenience and security to more than 350 million people globally who previously would not have had access to financial products.”
Leveraging technology such as mobile, prepaid and biometrics, these initiatives aim to provide the tools to offer safety and security, and replace the inefficiencies of cash among the unbanked in developing countries.
Related reading
Report: DLT, SWIFT gpi, Ripple and cryptos shape payments
The greatest impact of blockchain on payments is the acceleration of SWIFT gpi, according to Ed Adshead-Grant, general manager of payments, at ... read more
People moves: Token, Mid-Southern Bancorp, Ethereum and more
Token appoints new CTO San Francisco-based open banking platform provider Token appointed Gaurav Kohli as chief technology officer on January 29. As ... read more
Banks’ consumer engagement undergoing “fundamental shift”
The way that consumers are interacting with their banks is undergoing “a fundamental shift” towards digital, but the industry shouldn’t be too ... read more
Instant payments in a flash | podcast
Instant Payments are one of the latest developments in payments.
