Embed Size (px)
Citation preview
ADVANCING INNOVATION ADVANCING COMMERCE
Anna Zanghi
Global Lead Youth Segment Product
September 18, 2013
Role of Technology and Innovation in Promoting Financial Empowerment for Youth
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
The Need for Financial Inclusion is Global
March 28, 2012 Page 2
Sources: 1) “Half the World is Unbanked”; McKinsey / Financial Access Initiative; October 2009. 2) 2011 FDIC National Survey of Unbanked and Underbanked Households, September 2012.
North America
68MM 23%
Latin America
250MM 65%
Central Asia / East Europe
193MM 49%
Middle East
136MM 67%
Sub-Saharan Africa
362MM 80% South Asia
612MM 58%
East / SE Asia
878MM 69%
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
Electronic payments drive
ECONOMIC
EMPOWERMENT
2.5B
DON’T HAVE ACCESS TO
FORMAL FINANCIAL SERVICES
… and 85% of all retail transactions
are still in cash and checks
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
Low Levels of Financial
Access
Business model for financial inclusion
Identification of people
Financial Education
Barriers to Widespread Financial Access
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
MasterCard Approach
PRODUCTS /
FORM FACTORS
USAGE &
EDUCATION
PROCESSING
MERCHANT
ACCEPTANCE
& APPLICATIONS
PUBLIC PRIVATE
PARTNERSHIPS
RISK MANAGEMENT
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
Prepaid Payment Accounts Can Remove Barriers to Financial Inclusion
Page 6 April 3, 2013
• Not eligible 1
• Available to anyone - no credit check
• Protection against indebtedness
• Works like a basic bank account
• Not affordable 2 • Lower costs than traditional bank
accounts
• Transparent pricing
• No access 3
• Increased competition increases
choice
• Mobile form factor enables deeper
distribution
Barriers to Financial
Inclusion for Youth
Advantages of Prepaid
Payment Accounts
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
TurkCell Cep-T Paracard
27 September, 2013 Moving from Inclusion to Empowerment
Page 7
• Turkcell Wallet is the most extensive mobile
wallet that exists in the market today
• Combines mobile payments, mobile banking
and loyalty
• Allows for money transfers, air-time top-up,
purchasing packages, plus location-based
offers based on usage preferences
• Subscribers can use a companion card or
their mobile phone to access these features
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
UNISCOO Prepaid MasterCard
• Extending financial empowerment to students in Kenya
• Student run organization with access to internships,
entrepreneurship and social initiatives
• ID card and payment card with access to discounts
• Provides financial flexibility and independence
• Promotes savings and financial management culture
27 September, 2013 Page 8
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
• Financial innovation for more than 6 million child social welfare beneficiaries
SASSA Debit MasterCard
27 September, 2013 Page 9
• Provides security for benefits
disbursement
• Uses biometric identification
• Improves financial transparency
• Entry into formal banking sector
©2013 MasterCard. Proprietary and Confidential
ADVANCING INNOVATION ADVANCING COMMERCE
Your Money Smarter – An Innovative Education Platform
Enhance the customer
experience with an innovative
education platform
From: MasterCard
Welcome to Your Money
Smarter financial tips
program brought to you by
the YOUR BANK Prepaid
MasterCard.
Let’s get started!
A “Smarter” Financial Tips
program via SMS text
messaging covering:
• Budgeting
• Planning for the Future
• Savings
Text
‘YOUR
BANK’ to
58124
27 September, 2013 Page 10
