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It’s all in the (biometric data) cards for CEO Ajay Banga
If Ajay Banga had his way, we’d live in a cashless world, with more efficiency and less corruption. Cash economies, after all, leave vast swaths of people on the sidelines of the global economy. As president and chief executive of MasterCard, Banga sees at his disposal the tools to give many more among the poor a sense of financial inclusion. Toward that end, MasterCard’s latest endeavor is to help give 13 million Nigerian pensioners a card that serves both as a government-issued ID and an electronic payment card. Think of it as a bank account in hand. Social benefits will land on the card, which can be used at ATMs or shops. Savings can accumulate there, too — a revolutionary concept for most Nigerians. Banga took the time to discuss the program as well as his business, technology, progress and, yes, our cashless future. This transcrypt has been edited for length and clarity.Read original article
2013′s Most Visited City? It’s not N.Y., London or Paris
If current travel patterns persist throughout 2013, Bangkok will overtake London as the world’s most-visited international city.
That’s according to the Global Destination Cities Index, a forecast issued this week by MasterCard. The 3-year-old index ranks cities in terms of international visitor arrivals of at least one overnight stay, and by the amount of money those visitors spend in the destination city.Read original article
Nigeria signs up MasterCard to make dual-purpose identity card
MasterCard is teaming up with the Nigerian authorities to launch identity cards that will double up as electronic payment cards.Read original article
Justin Timberlake Teams With MasterCard For Two-Year Partnership, NYC Show May 5
Justin Timberlake announced a new long-term partnership with MasterCard on Monday that will kick off Sunday, May 5, with an exclusive cardmember concert at New York’s Roseland Ballroom.Read original article
Interview: MasterCard’s Vision for a Cashless, Cardless, World
Last year, we broke down the major players in mobile payments. Notably absent was MasterCard – mainly because the financial services company seemed content playing a behind-the-scenes role, providing the architecture on which the flashier Google Wallet was built. But a lot has changed since then. The company laid out its vision for the future of commerce with the launch of the MasterPass wallet at February’s Mobile World Congress in Barcelona.Read original article