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MasterCard holds first Prepaid and Government Conference in Dubai

Over 200 delegates gather to share insights and best practice from around the world

Dubai, United Arab Emirates (UAE), November 13, 2014: More than 200 delegates and expert speakers gathered between November 12 and 13 to share insights and best practice from around the world on how to drive financial inclusion and enable efficient governance and smart cities through electronic payments. The delegates were attending MasterCard’s first Middle East and Africa (MEA) Prepaid and Government Conference in Dubai.

“When you think about what Prepaid and government solutions have in common, you realize that they both come together to foster real enablement,” commented Michael Miebach, President Middle East and Africa, MasterCard during his opening speech. “Prepaid is the ideal bank-lite solution that can help increase efficiencies for governments and enable millions of their citizens to enter the formal financial sector.”

Currently, about half of the world’s adult population is excluded from the financial mainstream. As MasterCard strives to achieve its vision of a world beyond cash, the company is empowering millions of financially underserved people across the world by giving them access to safe, simple and convenient payment solutions and, consequently, creating more empowered and inclusive societies. Recent financial inclusion initiatives include the launch of a Social Security Program with the Bank of Punjab in Pakistan to automate and streamline government disbursement, subsidy and assistance programs, and a partnership with the National Identity Management Commission (NIMC) for the eID pilot program, that will reach 13 million Nigerians. This initiative is the broadest financial inclusion program in Africa.

Speakers included experts in the field of Prepaid and Government solutions from MasterCard in addition to keynote speakers who showcased their countries’ experiences in the electronification of payments from Mexico, Pakistan, Nigeria and Kenya