CrewCash Card to allow crewmen direct deposit paychecks via MasterCard prepaid (BankCreditNews)
CrewCash Card, a payroll and benefits platform, launched on Thursday to allow crewmen employed by participating shipping and trading firms to receive direct deposit paychecks on a Mastercard Inc (NYSE:MA) branded prepaid debit card. “MasterCard is constantly looking for new products and solutions that satisfy the specific needs and bring added value to our consumers,” Ignacio Plata, the country manager for Mastercard Inc (NYSE:MA)’s Panama, El Salvador and Nicaragua divisions, said. “This time, we are so glad to work with Cardplatforms in order to benefit crewmen, as well as the companies that will offer this innovative payment program, CrewCash MasterCard card.”
India’s RuPay challenges MasterCard and Visa in m-POS market (Telecomlead)
RuPay in India and PBOC 3.0 in China are giving tough competition to both Mastercard Inc (NYSE:MA) and Visa Inc (NYSE:V), dominant payment brands, in the m-POS market. ABI Research says alternative mobile payment developments including digital wallets and m- POS solutions are also challenging the dominance of both Mastercard Inc (NYSE:MA) and Visa Inc (NYSE:V). RuPay and PBOC 2.0/3.0 cards will have the largest market impact, accounting for 2 percent of all cards in circulation in 2013, increasing to 21 percent in 2018. This will directly eat into the potential growth that the likes of Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) would have targeted.
The MasterCard Foundation and BRAC Launch $46.7 Million Scholars Program for 5,000 Secondary Students in Uganda (TimesUnion)
BRAC, a global development organization founded in Bangladesh in 1972, has partnered with The Mastercard Inc (NYSE:MA)Foundation Scholars Program to launch a national-level scholarship program in Uganda, providing academically promising students from economically disadvantaged backgrounds with access to a quality education. Over an eight year period, The Mastercard Inc (NYSE:MA) Foundation Scholars Program at BRAC will enable 5,000 talented students to complete secondary school and transition into higher education. The program also provides students with leadership development, work skills, social and emotional competencies, and experience in community service.
IFC Promotes Mobile Financial Services in Cote d’Ivoire to Encourage Inclusive Development (AfricanBrains)
IFC, a member of the World Bank Group, and The Mastercard Inc (NYSE:MA) Foundation today convened key financial industry players to build further momentum for mobile financial services in Cote d’Ivoire. The event recognized the market’s enormous potential, especially for increasing access to finance for low income households, small scale businesses and in hard-to-reach areas. Mobile phone penetration in Cote d’Ivoire is more than 90 percent, while only 14 percent of Ivoirians have access to financial services. Mobile network operators have registered more than two million mobile financial services customers in the past three years. The Ivorian market for mobile financial services is the largest and the most dynamic in the West African Economic and Monetary Union region.