After helping connect 1 billion people and 65 million small businesses to the digital economy over the past decade, MasterCard It has committed to connecting 500 million more people and small businesses by 2030.
The effort will help provide financial resilience to more than two billion people who remain underbanked or unbanked, the company said on Monday (April 6). press release.
“Financial health doesn’t happen all at once.” Jon HuntsmanVice President and Head of Strategic Growth at Mastercard, and John LambertMastercard’s chief product officer said in the statement. “It’s a journey, from obtaining payment credentials and building a transaction history to accessing more advanced services like credit, loans or insurance that help people absorb shocks and manage risks.
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“Paths may vary, but secure infrastructure, confident digital engagement, and an expanding credit profile are what make financial resilience possible,” they said.
As Mastercard connects more people and small businesses, the company will capitalize on its potential Basic discount The core prepaid programs are in Nigeria and Colombia and will expand to more countries within months; Acceptance and issuance offers for small businesses; Its support for a growing network of digital wallets and partners; and its resources that help small businesses better understand and manage cyber risks, according to the release.
In addition, MasterCard recently launched a service Global Alliance for Financial Healthwhich brings together financial institutions, NGOs, telecommunications companies, wallet providers and other industry leaders to promote healthy financial behavior and long-term resilience for consumers and small businesses.
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When announcing the alliance in November, Mastercard said the group would help consumers and businesses around the world use digital tools to enhance their capabilities. Financial health And flexibility.
Mastercard’s role is to “build the path that makes the digital economy work for everyone by leveraging our innovations, networks, partnerships and ability to come together,” Huntsman and Lampert said in a press release on Monday.
In another recent move, MasterCard said in February that it had launched a money transfer partnership with the mobile telecommunications and communication company Ericsson It will help telecommunications service providers, banks and fintech companies expand digital wallet capabilities, offer new payment services, and offer unbanked and unbanked services. Suffering from a shortage of banks Communities.
