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Ajay Banga to Talk Inclusion through Innovation at Mobile World Congress

MasterCard President & CEO Ajay Banga is set to deliver a keynote address at Mobile World Congress on Tuesday, March 3 in Barcelona. The session, titled “Innovating for Inclusion”, will provide insights from several leading global companies and chief executives on how mobile will continue to help empower the individuals and societies it serves.

While 2.5 billion people around the world are currently without a bank account, a staggering 7 billion people have a mobile phone. Mobile technology is creating a whole new digital landscape and it’s also the starting point for bringing into the financial mainstream those who have been previously excluded.

Underscoring MasterCard’s commitment to working with industry players to ensure success, Banga will share exciting news around new partnerships that will exponentially expand access and usage of digital financial services.

Already today, MasterCard is partnering with public and private organizations to break down barriers to access – here are just some of the most recent examples:

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  • Our partnership with EcoCash, Zimbabwe’s largest mobile money provider, has resulted in over 200,000 Debit Companion cards being issued to EcoCash subscribers in the past six months. This has enabled them to access money at ATMs, and make purchases at merchants in person, remotely and online.
  • Through our HomeSend joint venture we are connecting proprietary mobile network money programs in countries such as Indonesia – resulting in greater connectivity, greater empowerment and greater inclusion in the day-to-day economy.
  • With the support of a $19 million grant from the Bill and Melinda Gates Foundation, MasterCard will open the first MasterCard Labs for Financial Inclusion in Nairobi/Kenya with the goal of empowering more than 100 million unbanked people around the world in the next five to seven years.

Follow @MasterCardNews on Twitter for live updates from Banga’s keynote session, as well as the latest news on how we’re connecting you to “what’s next” in digital payments. For full MasterCard coverage of this year’s Mobile World Congress click here.