Connecting the informal market to the formal economy

Ajay Banga, Mastercard president and CEO (right), discusses the benefits of mobile payments with Paul Makuleke, owner of Kasi Convenience Food and Internet Café in Alexandra, Johannesburg. Makuleke is one of thousands of informal traders who can now use Masterpass, the digital payment service from Mastercard, to pay electronically for stock ordered from the free Spazapp android app, and accept cashless payments from their customers - using their mobile phones.