Mastercard has been named #7 on Fortune’s second annual “Change the World” list, which recognizes 50 companies making important social or environmental impact through their corporate strategies. Mastercard, which was included on Fortune’s inaugural list (#11) last year for work to expand financial inclusion, was selected this year based on its efforts to transform the delivery of humanitarian aid.
Mastercard spent two years working with humanitarian organizations to create Mastercard Aid Network – a digital voucher system that uses a chip-enabled card to distribute aid more securely and efficiently, even in remote areas where connectivity is not available. Since its launch in September 2015, Mastercard has partnered with NGOs and other organizations to distribute cards to tens of thousands of people around the world who can use them to receive food or other goods most critical to their needs. Mastercard Aid Network has made it faster and easier for impoverished and conflict-and-disaster-affected communities to secure basic necessities, while empowering them with dignity and choice.
Each year, Fortune looks for new companies with recent impact. Companies that made the list in one year are rarely considered for a second year in a row. To assemble the list, the editors of Fortune along with FSG, a nonprofit social-impact consulting firm, the Shared Value Initiative, a global platform for organizations seeking business solutions to social challenges, and Professor Michael E. Porter of Harvard Business School, conducted the initial assessment of nominees. A team of journalists from Fortune then investigates each of the candidates independently. The final list of 50 is selected and ranked by the editors of Fortune based on the magazine’s own reporting and analysis.
This year, Mastercard Aid Network has also been recognized as “Best Point-of-Sale Innovation” by the PYMNTS Innovators Awards and “Change Agent of the Year” by the Pay Awards.
The full Change the World list is available here and will appear in Fortune’s September 1 issue.