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Working with Governments Around the World

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Debbie Shell

on 4 September 2013

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Transcript of Working with Governments Around the World

more than half of the world
is underserved
2.5 billion consumers
lack access
to traditional
financial services
About 85% of all retail transactions worldwide are cash-based
is working with governments
around the world to adopt electronic payments as an alternative to cash and check
Electronic payments deliver efficiencies and savings while promoting sustainable economic development
Working with governments is a priority for MasterCard
How are we different?
Or about 22%

Personal Consumer Expenditures
That's $6.1 trillion
Driving financial inclusion
Delivering economic efficiencies
Providing more transparency
Helping cut administrative costs
Working with Governments Around the World
supporting our corporate strategy
our customer base
Governments are becoming increasingly important to MasterCard,
People who have never had a banking relationship are entering the financial system
But as much as
of the Personal Consumer Expenditures (PCE) of the underserved remains in cash
Drives new volume and revenue
Provides direct access to millions of new consumers
Extends local distribution channels, such as post office networks, telcos and retailers
Deep experience
Why We are Winning:
Leveraging globally integrated payment solutions and advisory services that we customize at the local level
Consultative approach and engagement from concept to launch
Focus on innovation, integrating new technologies and functionalities
Ability to drive partnerships and bring together all necessary players
our core business
Because cash is expensive
There are underserved consumers in all regions of the world
Expertise in launching multi-partner programs
Globally integrated payment platform, customized locally
Speed to market
High satisfaction rates from consumers
And the opportunity is significant
Here are a few examples...
Source: Financial Access Initiative/McKinsey
Sources: Financial Access Initiative/McKinsey
Source: 2011 Euromonitor data
Source: Ibid
Source: Ibid
Source: Evaluaserve Markets
1 - U.S. Federal Reserve
2 - 'Italy to Kick Cash Habit,' Bloomberg News, Dec. 2011
3 - Government of South Africa
4- A.T. Kerney study, 2010
The global government benefits and payroll opportunity alone is estimated at $190 billion by 2017
Source: Boston Consulting Group, 2012
During the unrest in 2011, cardholders were the only public sector employees who received pay on time
Today, it's the largest government payroll card program in APMEA, with more than 1 million cards already, in a country where 65% of the population is unbanked
Government Payroll
South Africa,
South African Government Grants
Launched in April 2012 to distribute social benefits to 15 million recipients
Only MasterCard card with biometric functionality from Net1 in the market, including both finger and voice recognition, virtually eliminating fraud
The M/Chip 4 technology enables both online and offline functionality; cards can be issued instantly, anywhere
Social Benefits
MasterCard responded rapidly, developing and launching the social benefits program together with Poste Italiane in just five months
In December 2008 the Italian central government launched the "Carta Acquisti" social card program, with cards distributed through Italy's 14,000 post offices
The government needed a cost-effective way to distribute aid to senior citizens and families with children during the economic downturn
Working with the Ministry of Finance and Central Bank of Egypt, we developed a customized payroll solution for more than 10 million government workers
Mobile Payments
A successful private-public partnership connecting consumers in a remote village to an electronic and mobile payments ecosystem
Mobile phone-based initiative allows consumers to make payments, person-to-person transfers and local calls
Significant reduction of cash in-flows
United States,
Federal Benefits
The program was launched in 2008, with more than 3 million prepaid cards issued to date and an expected $1 billion in savings over 10 years
A Federal mandate is expected to drive conversion of all federal benefits to electronic payments by March 1, 2013
Not only does the U.S. Treasury report a 90-cent savings every time funds are distributed on a card, but recipients also report a 95% satisfaction rate
Already 3 million cards issued, with an estimated 10 million by the end of Q1 2013
Full transcript