NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, September 19, 2014

On Sept. 18, MasterCard and BANSEFI, the social bank of Mexico, announced a partnership to foster financial inclusion in Mexico through the disbursement of social benefits using electronic payments.

The BANSEFI MAS MasterCard-branded card is part of the recently launched social support program developed by the Mexican Government. Through this partnership, over 6.5 million beneficiaries will have access to electronic payment methods, providing them with greater security, control and convenience to their routine.

Most of the Mexicans enrolled in this social disbursement program are women who will, for the first time, be able to deposit funds, receive social benefits, save, or engage in many other financial transactions that are facilitated by electronic payments.