May 11

Mastercard Expands Global Commitment To Connect 1B People

As the coronavirus pandemic continues to disrupt worldwide economies and everyday life, Mastercard vows to connect 1 billion people and 50 micro-businesses to the digital economy by 2025. In addition, the company will offer tools to 25 million female entrepreneurs to fuel business growth.

Ajay Banga, chief executive officer at Mastercard, said in a statement that long term recovery from the crisis is dependent on inclusion. He said that this moves beyond philanthropy and offers a chance to “develop commercially-sustainable and scalable social impact with government and private sector partners — and to do it in a way that helps society-at-large thrive.”

Some 60 percent of the global population calls the Asia Pacific home, according to UNFPA. The region is the fastest-growing economy worldwide, but the pandemic has slowed the number of people who will escape poverty, according to the World Bank.

Photo courtesy of Håkan Dahlström.

Source: PYMNTS (link opens in a new window)

digital inclusion, financial inclusion