Wednesday
September 15
2021

Mastercard and Paycode Partner To Improve Access to Financial Services in Rural Areas

Russel Ayugi

Mastercard has partnered with Africa’s global startup engagement program Start Path and startup Paycode to deliver their offerings into a single biometric smart card aimed at increasing access to critical services while advancing economic inclusion among Africans living in remote communities.

Mastercard’s Community Pass platform will feature in Paycode’s Electronic Data and Payments Technology platform (EDAPT) that provides secure biometric identity including a digital bank account. Individuals will have access to both offline and real-time digital finance services regardless of whether they lack a formal identity document such as a passport or birth certificate.

Photo courtesy of ICT4D.at.

Source: TechInAfrica (link opens in a new window)

Categories
Technology
Tags
digital banking, financial inclusion, financial services, rural development, startups, technology