MasterCard offers a variety of public sector solutions that can be implemented at any scale so governments can better serve their citizens and employees. Below are just a few examples of the types of solutions we offer.
The shift to electronic payments allows governments to ensure that social benefit disbursements are delivered and used as expected, with increased transparency and reduced processing time and costs.
Electronic payments can also maximize the utility of national ID programs and expand financial inclusion. Explore the benefits.
The advantages of electronically disbursed social benefits include:
Reach – Distributing cards and implementing mobile solutions maximizes reach to citizens and minimizes effort on the part of the recipient
Security/Validation – Providing strong authentication and eligibility validation, including biometrics, ensures that the right people benefit from social spending and that funds are used as intended
Cost Efficiency – Efficiencies are gained by decreasing the time and effort involved with cash and check processing, as well as curtailing leakage, processing errors and eliminating the logistics of transporting cash
Convenience – Funds are immediately available, promoting faster local circulation and saving citizens the need to travel or queue to receive funds
Inclusion – Enabling the unbanked and underserved to enjoy better management of spending and the opportunity to save for the future
Economic Growth – Growth in local and remote economies through improved payment flow, reduced time and travel costs to get funds, reduced theft, more efficient local economic activity and increased local investment
Offering multiple functions on a single card maximizes efficiency, optimizes usage and reduces management for both government and citizens. Multi-function cards offer:
Visibility – Understanding who and where citizens are located is critical to effectively serving them and driving social progress
Reach – Increasing financial inclusion among citizens who are able to receive their social payments electronically enables governments to gain a better understanding of the population
Efficiency – Combining National ID programs with electronic payment functionality creates cost savings to help fund ID programs, which can be leveraged for other social benefit programs
Economic Development – Providing a universal, secure means of identification for all citizens generates ancillary cost savings for the private sector and accelerates economic growth
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