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Beyond the Transaction: Every Transaction Has a Story

A Letter to Our Community

To the Mastercard Community–

COVID-19 has become part of our new reality. At best, we are faced with the new challenges of social isolation and figuring out how to use digital connections to stay close with our family, friends and colleagues and to help our children continue to learn. At worst, we are battling the virus directly, as well as the myriad complications that come with it. No matter where you are and what you are facing, know that our hearts go out to you.

Even when the world is enjoying general health and prosperity, there is a need to tap into our basic human decency as we approach our work and relationships. But right now – when the world has had to resort to extreme measures to tackle extreme circumstances – decency is even more important. It’s what’s going to give us a fighting chance at faster recovery and, eventually, growth on the other side.

Right now, when all the health and safety guidance is asking us to fundamentally alter the way we interact with each other, the desire to close ranks and only worry about our immediate area of influence is understandably strong. But the need for businesses to step up, reach beyond business-as-usual and activate new and perhaps creative ways to use their infrastructure and key skills to keep the economy and society going – that’s even stronger.

Mastercard’s core capability is enabling commerce. We’re going to keep doing that today, tomorrow and far into the future. But, we are also going beyond commerce to support our various communities, because that’s what we need to do in order to navigate this crisis together.

Our Workforce:
Our employees make Mastercard what it is today. Their resiliency and creative approach to challenges of all kinds are what will see us through this period and help us define new ways to help others. Their safety and security has always been and will continue to be at the top of our minds.   We’ve initiated several temporary policies according to guidance from regional authorities, international health organizations and our employee’s own concerns and comfort levels, including working from home, split working schedules, restricted or postponed travel, among others.

Our Partners and Clients:
We are managing our business, so we can be there for our partners today and even stronger for them when we all come out the other side. Our operations continue as normal, supported by a resilient core infrastructure and comprehensive business continuity plans. Furthermore, we continue to tap into our insights and capabilities to provide real-time responses and adaptability to protect against increased cyber risks and fraud threats, while also using enhanced analytics and test & learn capabilities to ensure our ideas and solutions are working as hard as they can for our clients. The bottom line: we’re here for you, no matter what this global event throws our way.

Our Account and Cardholders:
Whether you are ordering quarantine supplies online in Vancouver or a shopkeeper trying to keep stocked for your own customers’ needs in Kampala, we are maintaining our operations and network to support the ways people need to pay for things however, whenever, wherever and whatever the circumstances. We are here to provide you with the safe, simple and seamless experiences you expect from us every other day.

Our Society:
In times like these, all efforts matter and we will continue to look for ways to help – big and small. We are partnering with The Bill and Melinda Gates Foundation and Wellcome Trust to accelerate the development and access to treatment for COVID-19.  Together, we have committed up to $125 million in funding to speed-up the identification, assessment, development, and scaling of treatments. We invite you to join our effort to find a solution to this unprecedented situation by giving to the Covid-19 Therapeutics Accelerator Fund. We are also continuing to match employee donations to relief efforts and have contributed to funds like the China Women’s Development Foundation to support the initial efforts in Wuhan. Through our partnership with Scholastic, we are making our Girls4Tech online curriculum for grades 3 – 7 available to anyone who wants to download it. And, most recently, we have donated 25,000 respirator masks to NYC hospitals.

At Mastercard, our focus has always been on helping to build a more connected world, and in today’s environment, this is more important than ever. We remain committed to that cause and are moving forward in a way that supports human safety and global efforts for sustainability now and recovery in the future. We are in this with each and every one of you for the long haul and I am confident that, as long as we keep plugging in to our basic human decency, we will emerge from this and find new strengths and growth we never imagined.

Sincerely,
Ajay Banga