MasterCard Promotes Financial Inclusion With Electronic Payments
Thursday, September 12, 2013
While payment cards are often promoted as premium status-driven consumer products in the United States and Europe, in developing countries debit cards are proving valuable for delivering child benefits, pension payments and government salaries.
Grindrod Bank in South Africa has issued 10 million MasterCard debit cards covering 22 million people in South Africa. The debit cards, issued through the South African Social Security Agency (SASSA), have biometric functionality to positively identify grant recipients.