Mastercard Expands Inclusive Growth Efforts in the U.S.
June 20 2017 - 11:00AM
Business Wire
New Research Grants Support Small Businesses
and Sustainable Economic Development
Mastercard and the Mastercard Center for Inclusive Growth today
announced the findings of a multi-city inclusive growth initiative
and three new grants supporting research and programs to help
ensure more Americans can benefit from a growing economy.
The report and research grants result from a recently concluded
series of roundtable discussions and panels entitled, “On the Front
Lines of Inclusive Growth,” through which Mastercard executives met
with more than 100 civic leaders, entrepreneurs, policymakers and
independent citizens to gain a better understanding of social and
economic growth barriers and to identify opportunities to leverage
Mastercard assets in making a positive social impact. The
initiative included stops in Atlanta, Chicago, Columbus, New York,
Oakland, St. Louis and Washington D.C.
Mastercard North America president, Craig Vosburg, spoke on the
importance of inclusion at the CFSI Emerge Financial Health Forum
on June 16 stating, "Together, we need to focus on creating a
sustainable way to help bridge the divide that exists today in the
U.S. Over the last few months, we heard critical inclusion issues
first hand from people working with vulnerable Americans. From
these insights, we identified key areas where we along with our
business partners can make real impacts to improve financial
inclusion and growth in the U.S.”
Initial actions resulting from the initiative include three
grants focused on small businesses and research on sustainable
economic development:
- Accion - Support innovations to
build the resiliency of small businesses to financial shocks and
enable them to achieve sustainable business growth. The grant will
fund a program to test the impact of consumer and financial data on
business’ financial health.
- PolicyLink - Conduct new
research on the economic characteristics of over 100 million people
in the U.S. living at 200 percent of the poverty line or below. The
work will result in a detailed profile of the broader workforce
trends shaping opportunities and barriers to economic mobility for
one-third of the U.S. population.
- Urban Institute - Develop data
driven metrics and methodologies to better answer key questions
related to inclusive economic growth in U.S. metropolitan areas.
The project will combine Mastercard insights with public data to
create new indicators and identify new evidence to support and
monitor local inclusive growth efforts.
“When you know better, you do better,” said Shamina Singh,
president, The Mastercard Center for Inclusive Growth. “As we
learned from our meetings with public and private sector leaders at
all levels, sustainable economic growth requires evidence-based
programs and partnerships. Our collaboration with Accion,
PolicyLink and the Urban Institute, supports critical research,
analysis and insights that will unlock the economic potential of
some of the nation’s most vulnerable populations.”
“Identifying Opportunities to Advance Economic Mobile in U.S.
Cities” summarizes the results of the roundtable discussions and
highlights five areas of opportunity for action. The report is
available for download by clicking here.
About Mastercard
Mastercard (NYSE:MA), www.mastercard.com, 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 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 Beyond the Transaction
Blog and subscribe for the latest news on the Engagement
Bureau.
About The Mastercard Center for Inclusive Growth
The Mastercard Center for Inclusive Growth focuses on
promoting equitable and sustainable economic growth and financial
inclusion around the world. As an independent Mastercard
subsidiary, it combines data, expertise and technology with
philanthropic investments to empower a community of thinkers,
leaders and innovators on the frontlines of inclusive growth.
Follow us on Twitter @CNTR4growth and subscribe to
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Mastercard CommunicationsJim Issokson,
1-914-249-3153James.issokson@mastercard.com
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