I read the article Mastercard Expands Global Commitment To Connect 1B People with interest and excitement.

I have been commenting for 16 years, and since the Covid-19 Pandemic even more vociferously, that we have to make it easier and more seamless for the bottom end of the economic pyramid to access financial services.

Mastercard’s commitment as per the below to “financially include” 1 billion people is admirable and as a Mastercard Engage partner we plan to be actively involved in this project. WIZZIT has a 16 year relationship with Mastercard where we started to digitally include the unbanked; being pioneers in launching Mobile Banking together with a card.  What is clear across the 3 continents in which we work is that all interested parties need to work together to lobby regulators and Central Banks to facilitate the digital onboarding of the unbanked and manage the AML KYC risk through limits on the account.

Financially included means access to savings, to credit and insurance, and payment instruments and includes both the issuing (signing up of new account holders) and acquiring (signing up of merchants) focussing on the unbanked and including the SMME merchants who are financially excluded. WIZZIT’s Tap2Pay products, that we are working closely with Mastercard on for both e-commerce as well as softPos, will go a long way to contributing to this massive goal of 1 billion people being financially included.

Well done, Mastercard, and we look forward to working with you on this worthy cause.

Leveraging WIZZIT’s experience in creating financial inclusion models and having recently closed significant deals with innovative banks as well as progressive Governments,  WIZZIT is now exploring collaboration opportunities globally with Mastercard to contribute and deliver against the 1Bn goal.

Mastercard Expands Global Commitment To Connect 1B People 


Link: https://www.pymnts.com/mastercard/2020/mastercard-expands-global-commitment-to-connect-1b-people/ 


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