Mastercard (No. 7 on the Fair360, formerly DiversityInc Top 50 Companies list) announced on Jan. 24 the Inclusive Futures Project, a new program committed to providing products and services specifically aimed at gig and next-gen workers.
“Mastercard is in a great position to respond to the changes we’re seeing in our economy to use our technology infrastructure, digital payments expertise and data and insights to introduce meaningful solutions that help our changing workforce prosper and our cities continue to flourish, all benefiting from a connected economy,” said Vosburg.
The Inclusive Futures Project will address challenges in three key areas:digital solutionsto manage finances and speed payments;government servicesfor greater innovation and efficiency; andsmart citiesfor a digitally inclusive future.
- Digital Solutions Commitment:Mastercard andCare.com, the world’s leading online service for finding and managing family care, will make it easier for caregivers on Care.com to manage variable cash flows and personal finances by providing them with real-time payments for services rendered along with budget management tools.
Mastercard’sAssemble for Millennialsalready helps millennials manage their money and withMastercard Send APIson-demand drivers collect their pay in near-real time.
- Government Services Commitment:Mastercard andSquarewill join forces and engage, to start, with municipalities in New Orleans and Cleveland to create educational workshops to provide support to entrepreneurs and small business owners, with a specific focus on financial literacy and access. By leaning into existing digital solutions and partnerships, the two companies will help local businesses expand with digital payments.
“Small businesses are the growth engine of the economy, and the economy is better when everyone has access,” said Mary Kay Bowman, Head of Payments, Square. “Along with Mastercard, we want to learn about improving economic empowerment in cities across the country. It’s all part of our mission to help sellers of all sizes start, run, and grow their businesses.”
Working with government and private partners, Mastercard helps to ensure millions of Americans safely and reliably receive government payments, including social security and veterans’ benefits, throughDirect Express.
- Smart Cities Commitment: Through a public-private sector program calledCity Possible, Mastercard will work with cities and corporate partners around the world co-developing, scaling and commercializing solutions that help drive more inclusive and sustainable urban economies.
InChicago, Mastercard worked with City Tech and other partners to pilot innovative demand management services during busy transit periods. The pilot found that nearly 18 percent of commuters would alter their travel plans, for the right incentive, to avoid congestion before evening baseball games. InNew York, Mastercard data insights helped NYU researchers study increased commercial activity around bike sharing and free public WiFi service.
Details of Mastercard’s expanding inclusion strategy in the U.S. can be foundherein the white paper, The Inclusive Futures Project: On the Front Lines of Inclusive Growth in the U.S.
