The Digital Road to Financial Inclusion

Richard Wormald, Division President - Australasia, Mastercard

Mastercard and inclusion 

  • Richard presented case studies demonstrating how industry can use technology, financial and digital initiatives to improve inclusion including Silverton’s digital transformation story. 

  • Mastercard is not a credit card company, they connect consumers with banks.  Listed on NYU in 2006 two years after Google but have more users than Google. 

  • Mastercard Foundation valued at $42 bn. Committed to helping 1 billion people into the digital economy by 2025.  

  • For instance, in Pacific Islands, launched service with Vodaphone and Google phone to become a payment terminal. 

  • Using data to drive inclusion in Poland for Ukrainians fleeing the war.  Mastercard provided a platform in Poland for Ukrainians and rolling out technology capability throughout Europe. 

  • Launched Strive in the UK supporting 10m small businesses globally. Participating businesses have seen an uplift in productivity. 

  • Launched Touch Card in Australia to help the vision impaired. 

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