By Marla Blow, Senior Vice President of Social Impact, North America, Mastercard Center for Inclusive Growth
Inclusive growth ensures that the benefits of a growing economy extend to all segments of society, and research suggests that productivity is determined less by a person's skills and abilities, and more by their access to the vital networks that power the modern economy. But access to these physical, virtual and social networks is not equally available, and Black people have been deliberately excluded from these networks.
Furthering longstanding financial inclusion efforts to bring more people and small businesses into the digital economy, the company will bring equitable financial tools, investment and partnerships to cities across the U.S.
Annual Sustainability Report Focuses on Action, Impact on Society, Economy and Planet
Mastercard has released its 2019 Sustainability Report outlining its progress towards building a more inclusive and sustainable digital economy. The report charts impact and progress against four areas: Inclusive Growth; Our People and Culture; Environmental Stewardship; and Ethical and Responsible Standards.
The crux: As COVID-19 disrupts local economies, cities and states are assessing the impact on workers and strategizing how to rebuild more equitably. Minimizing the number of low-wage, no-benefits jobs will be a priority. A new tool can help.
How Financial Services Providers used interactive mobile messaging to help thousands of MSMEs grow
Micro and small merchant training is a critical undertaking in developing nations where these businesses are the biggest drivers of economic growth and job creation.
However, massive gaps in business management skills and financial literacy are limiting their potential. In an ideal world without resource constraints, all merchants would have access to in-person training programs, with dedicated instructors helping them learn and implement best practices.
COVID-19 is accelerating nonprofits' work and data science is stepping up to help
The coronavirus pandemic has amplified the power of data science for social impact in many ways, from helping to deliver school lunch stipends to parents after schools closed to using technology to make accessing critical safety net programs more streamlined and user-friendly.