MasterCard and The Center for Financial Inclusion at Accion Team up to Advance Financial Inclusion

MasterCard and The Center for Financial Inclusion at Accion Team up to Advance
                             Financial Inclusion

Research Analyzes Global Trends that are Affecting Drive toward Greater
Economic Empowerment

PR Newswire

WASHINGTON and PURCHASE, N.Y., Feb. 4, 2013

WASHINGTONand PURCHASE, N.Y., Feb.4, 2013 /PRNewswire/ --The Center for
Financial Inclusion at Accion together with MasterCard  today launched Mapping
the Invisible Market, amajor research initiative as part of the Financial
Inclusion 2020 campaign. Additionally, the organizations launched an
interactive website that provides data visualizations to bring the research to


Mapping the Invisible Market will consist of a series of research papers
looking at how demographics, income, urbanization, and other issues affect
financial inclusion, at a time when over 2 billion people don't use formal
financial services. The first report, Looking Through the Demographic Window,
details how profound demographic shifts in the developing world have
implications for how people can save, invest, or transfer money. For example:

  oOver the next decade, 68% of the world's population growth will be in less
    developed countries. These countries are poised for economic growth – but
    they must invest in financial inclusion if all their citizens are to take
  oThese less developed countries are also aging. In 1950, 1 in 20 people
    worldwide was elderly; by 2050 it will be 1 in 5. Financial inclusion
    policy makers should consider the great need for savings to carry people
    through their later years.

"Now is a time of innovation in extending financial services to low income,
underserved communities. MasterCard is exploring many creative possibilities
and turning their ideas into operating partnerships around the globe. That's
why we're so excited to be working with them," said Elisabeth Rhyne, Director
of the Center for Financial Inclusion at Accion and a co-author of the
report. "Countries at different demographic stages need to focus on financial
inclusion policies that fit their demographic profile. They should promote
solutions that address the major life events facing their key population

"We're thrilled to be partnering with The Center for Financial Inclusion at
Accion. With half of the world's population still excluded from the formal
economy, collaboration between development practitioners and businesses is
critical. As we move towards a world beyond cash, we need to leverage
technology and education programs that can drive real inclusion and
empowerment," said Patricia Devereux, Group Head, Corporate Philanthropy and
Citizenship  at MasterCard.

The accompanying website will also include findings from the following papers:

  oGrowing Income, Growing Inclusion: How rising incomes at the base of the
    pyramid will shape financial inclusion.
  oThe effect of urbanization: Examines how urbanization affects those who
    are and are not in the financial mainstream.

And two tools will allow users to customize the information to their own

  oData Explorer: a dashboard that displays the information from over 80
    indicators and geographic areas in bar charts, bubble graphs and maps.
  oCountry Profiles: allows users to explore any country or region's
    financial inclusion and demographic profiles.

About MasterCard

MasterCard (NYSE: MA), MasterCard, is a technology company in the global
payments industry. We operate the world's fastest payments processing network,
connecting consumers, financial institutions, merchants, governments and
businesses in more than 210 countries and territories. MasterCard's products
and solutions make everyday commerce activities – such as shopping, traveling,
running a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews, join the
discussion on the Cashless Conversations Blog and subscribe for the latest

About CSR at MasterCard

MasterCard believes all people should have an opportunity to participate in
the global economy. However, millions of people around the world lack access
to the most basic financial tools. They don't have secure places to save
money, reliable ways to transfer it, or safe ways to transport it. Our payment
innovations, such as prepaid and mobile solutions, as well as our
philanthropic and consumer education programs, bring the benefit of finance to
the unbanked and underbanked, helping them build a stronger future for
themselves, their families and their communities.

About the Center for Financial Inclusion at Accion

The Center for Financial Inclusion at Accion (CFI) was launched in 2008 to
help bring about the conditions to achieve full financial inclusion around the
world. Constructing a financial inclusion sector that reaches everyone with
quality services will require the combined efforts of many actors. CFI
contributes to full inclusion by collaborating with sector participants to
tackle challenges beyond the scope of any one actor, using a toolkit that
moves from thought leadership to action.

About Financial Inclusion 2020

FI2020 aims to build a movement that mobilizes stakeholders around the globe
to achieve full inclusion using the year 2020 as a focal point to galvanize
action. The campaign engages diverse players who can expand financial
inclusion through two initiatives: the research project Mapping the Invisible
Market anda Roadmap to Financial Inclusion which will be carried out through
a consultative process leading to a global forum in 2013, with the ultimate
goal to advance the agenda through coordinated, effective, collaborative
actions to be undertaken by global partners, both public and private.

SOURCE The Center for Financial Inclusion at Accion

Contact: Andrea Snyder, Accion, +1-617-625-7080 Ext. 1010,;
James Issokson, MasterCard, +1-914-249-6286,;
Nicole Ward, MasterCard, +1-914-249-5303,
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