Photo Credit: Andressa Castro
Speaking at CMEP – the premier payments conference in Brazil – Ann Cairns, President International Markets for MasterCard, highlighted today that a new model to bring financial inclusion to billions of excluded people is much needed.
“Bringing financial services to the excluded using traditional methods isn’t getting us there fast enough. We need to build an ecosystem that includes governments, NGOs, banks, telecommunication companies, utilities, and payment networks – an ecosystem with partners that are willing and able to collaborate to provide products and services that are relevant to the under-served”, said Ann during her speech, reinforcing the importance of leveraging technology such as mobile, prepaid and biometrics. “These initiatives aim to provide the tools to offer safety and security, and replace the inefficiencies of cash among the unbanked in developing countries.”
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