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.