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Mastercard: 2 Billion Adults 'Trapped' in Cash Economy

Despite advances made in the last several years, two billion adults around the world are trapped in a cash economy and lack what we take for granted -- a safe way to receive, save and use money. Shamina Singh, executive vice president of sustainability and president of the Mastercard Center for Inclusive Growth, chats about how Mastercard is developing new ways to facilitate electronic payments and serve more consumers around the world, extending opportunities for financial inclusion and empowering social change.
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alison diana
alison diana,
User Rank: Moderator
3/23/2017 | 3:30:08 PM
Telecom's Huge Role
Service providers play a huge role in serving the 'unbanked,' both in the United States and around the world. In fact, some countries rely extensively on phone companies for payments - whether it's between individuals or between an individual and a business. Mobile payments are a huge opportunity for many service providers and deliver an invaluable service to those who cannot or won't use traditional banks for reasons ranging from lack of local banking institutions to poor credit.
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