Mastercard reinforced its commitment to bring 500 million people across the globe to the digital economy before the end of 2020, South Africa based ITWeb information agency reports.
“We have a goal of bringing 500 million people into the digital economy by 2020 and we are going to achieve that goal this year,” said Suzanne Morel, country manager for Mastercard SA, speaking at the Forbes Woman Africa Leading Women Summit in Durban on Friday.
“To reach this goal, we are applying our best assets – tools, technology, insights, funding, partnerships and expertise – to improve the lives of people and communities around the world,” Morel added.
In 2015, Mastercard made a commitment to reach 500 million people previously excluded from financial services by 2020. At the time, the financial services company highlighted that reaching full financial inclusion by 2020 requires active engagement and partnerships with the private sector, governments and international development organizations.
Mastercard has over 500 programmes aimed at driving financial inclusion across the globe.
In collaboration with the World Bank, the United Nations and other stakeholders, Mastercard committed to provide access to a transaction account or an electronic payment platform to store money, send and receive payments, breaking down barriers for micro-businesses and providing consumers with digital financial services.