|By Business Wire||
|June 5, 2014 12:01 AM EDT||
MasterCard’s technology combined with increased engagement of governments is helping drive greater expansion of financial inclusion. Public-private partnerships, such as the social security program in Pakistan MasterCard announced last week, offer citizens new opportunities to join the financial mainstream.
Around the world, innovations such as prepaid and mobile payments combined with biometrics are enabling more people to take advantage of formal financial services. This is especially apparent in Africa where MasterCard was recently recognized by The African Banker for its work extending financial inclusion across the continent. MasterCard’s broad-based collaboration with public and private sector entities is quickly bringing the benefits and security of electronic payments to the continent’s largest economies, where financial exclusion is still prevalent.
- MasterCard’s work with the South African Social Security Agency has helped showcase the impact of delivering government funds via electronic payments and encouraged other governments to explore these solutions.
- In Nigeria, the government launched a national ID program that combines a biometric identification solution with a prepaid payment functionality powered by MasterCard and is the broadest financial inclusion initiative of its kind on the African continent.
- In Egypt, MasterCard partnered with the National Bank of Egypt and Etisalat to unveil the first Arabic mobile money program that enables subscribers to transfer money via their phone.
Earlier this year, MasterCard president and CEO Ajay Banga set the tone on the private sector’s role to provide broader access to financial services for the 2.5 billion adults who lack a simple bank account. “While the risks of not addressing financial inclusion are profound, the benefits are undeniable,” said Banga. “If it’s done well, it can help grow an economy that’s more equitable, sustainable and inclusive.”
But, leading on financial inclusion isn’t new to MasterCard or limited to Africa. In fact, MasterCard has programs designed to bring financial access to over 350 million people around the world including:
- In Brazil, MasterCard’s joint venture with Telefonica created Zuum, a mobile money solution to make deposits or transfers and pay bills easily and securely;
- In Vietnam, a partnership with Viettel and Military Bank to develop a prepaid card linked to the Viettel BankPlus wallet;
- In India, a collaboration with Beam launched a mobile companion prepaid card that allows mobile wallet consumers to transact at physical merchants, online and access ATMs;
- In Turkey, together with the Turkish Government and DenizBank, MasterCard introduced a new Social Aid Card to bring innovation and efficiency to Turkey’s welfare service; and
- In Canada, a collaboration with SelectCore and the City of Toronto launched the City Services Benefit Card, a prepaid card program enabling Toronto residents to instantly receive their Ontario Works benefits through an EMV chip and PIN prepaid MasterCard.
Throughout 2014, MasterCard has continued to lead efforts that expand financial inclusion:
- Issuing new payroll card standards in the United States to help employees take full advantage of the benefits of having their paycheck electronically deposited;
- Launching the MasterCard Center for Inclusive Growth to foster collaborative relationships between academia, governments, nonprofits, the social design community, and the private sector that advance research and investment in sustainable economic growth;
- Partnering with the Inter-American Development Bank to promote economic inclusion in Latin America & the Caribbean;
- Co-authoring “Banking a New Generation” with Child Youth Finance International to help financial institutions, NGOs and governments co-create appropriate and innovative banking and payment products for young people;
- Leading conversations on Financial Inclusion with the World Economic Forum in Davos, Colombia, Nigeria and Philippines; at the China Development Forum; and with the World Bank;
- Conducting the Road to Inclusion study in India, Indonesia, Vietnam, Philippines, Egypt, and Nigeria that challenges previously-held notions of the unbanked; and
- Continuing to partner with the Better Than Cash Alliance, an organization that works with governments, the development community and the private sector to move towards electronic payments in emerging economies as a pathway to greater financial access.
“We must dispel the myths surrounding financial inclusion,” said Banga. “The 2.5 billion adults without access to financial services are disproportionately women and young people and include many who are employed or living in urban centers. And, there are 106 million unbanked or underbanked people in the United States, so clearly financial inclusion is needed in all markets, not just the developing world.”
MasterCard (NYSE:MA), http://www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 25, 2017 05:45 PM EDT Reads: 988
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Apr. 25, 2017 05:15 PM EDT Reads: 2,164
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 25, 2017 04:45 PM EDT Reads: 355
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
Apr. 25, 2017 04:45 PM EDT Reads: 2,632
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
Apr. 25, 2017 04:30 PM EDT Reads: 2,288
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
Apr. 25, 2017 04:15 PM EDT Reads: 1,996
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Apr. 25, 2017 04:00 PM EDT Reads: 941
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
Apr. 25, 2017 03:04 PM EDT Reads: 254
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 25, 2017 03:00 PM EDT Reads: 446
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Apr. 25, 2017 02:45 PM EDT Reads: 1,245
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Apr. 25, 2017 02:45 PM EDT Reads: 507
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Apr. 25, 2017 02:30 PM EDT Reads: 525
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.
Apr. 25, 2017 01:45 PM EDT Reads: 322
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Apr. 25, 2017 12:30 PM EDT Reads: 1,219
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 25, 2017 12:15 PM EDT Reads: 971
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
Apr. 25, 2017 10:30 AM EDT Reads: 656
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Apr. 25, 2017 10:15 AM EDT Reads: 2,105
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 25, 2017 10:00 AM EDT Reads: 1,006
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 25, 2017 09:45 AM EDT Reads: 1,221
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Apr. 25, 2017 09:00 AM EDT Reads: 1,092