MasterCard has joined hands with 100 Resilient Cities (100RC) – Pioneered by The Rockefeller Foundation to use its technology and expertise to help 100RC’s member cities develop critical tools to drive economic growth and improve the lives of citizens, businesses and tourists.
MasterCard said that it will work with 100RC to enable the cities understand the risks of a cash-based economy and the opportunities associated with converting to digital payments.
Additionally, the company will help 100RC members to develop and deploy resilience strategies, help deliver payments infrastructure and technology solutions to support those strategies, and share lessons learned to inform other cities.
MasterCard vice president of government services and solutions Craig Driver said: “In the face of rapid urbanization, removing cash from the economy has been shown to create far-reaching and cumulative benefits to all – citizens, businesses, tourists and governments.
“Working with 100RC, we can tap into our expertise creating digital payment solutions for governments to help cities achieve greater cost-savings and efficiencies, drive revenue, reduce crime, establish digital identities for their citizens, expand financial inclusion and improve overall quality of life.”
At present, MasterCard is working with governments on over 1,300 programmes in more than 60 countries addressing payments needs such as social benefits, government payroll, procurement, government receipts, and transit.