Cashless is king: building a financially inclusive Africa with digital technology
Mastercard’s innovative solutions are driving the move towards a cashless continent
The emergence of digital technologies is driving unprecedented change across Africa. At the forefront is Mastercard, with its commitment to connect more than 100m Africans and 500m people worldwide to formal financial infrastructure by 2020. At the recent bi-annual Payments Association of SA (Pasa) International Payments Conference (PIPC 2018), two Mastercard representatives spoke about the digital innovations empowering merchants and consumers in emerging economies.
Empowering survivalist and micro-enterprises with technology Gabriël Swanepoel, vice-president of product development and innovation at Mastercard SA, says financial inclusion is about more than setting up payment systems – it’s also about social upliftment, infrastructure creation and empowering people. “It’s the empowerment of the consumer; it’s the ability for consumers to exercise choice; it’s making available micro-finance opportunities; it’s laying the foundation for the delivery of payment roles from an acc...