MasterCard CEO highlights financial inclusion momentum

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.

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