30 Nov '16, 10am

The mission behind Mastercard's SDG master plan

The mission behind Mastercard's SDG master plan

In early November, India prime minister Narendra Modi surprised his country by banning some of its most widely circulated physical currency — a big shock, considering data from consulting firm McKinsey suggests almost 90 percent of transactions completed there are still conducted in cash, especially in the most rural regions. Modi justified his action as a move to eliminate black market currency, but it could have far broader economic impacts for the world’s fastest-growing economy . For one thing, the measure could trigger more rapid adoption of digital payment technologies and services. If that happens, one big benefactor could be multinational financial services company Mastercard. That’s by design. One year ago, the company, which has made financial "inclusiveness" a key pillar of its long-term growth strategy, made a very public commitment to all 17 of the United Nati...

Full article: https://www.greenbiz.com/article/mission-behind-mastercar...

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