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As part of its ongoing effort to advance a public-private dialogue on the cost of cash and the benefits of electronic payments, MasterCard convened representatives from governments, academia and other NGOs to share insights and new research on this topic at a Public Sector Payments Forum here in Washington D.C. this week. Among the participants were World Bank, Universal Postal Union, The Fletcher School at Tufts University and the Southeastern Pennsylvania Transit Authority (SEPTA).
MasterCard convened a cost of cash, public-private dialogue with representatives from governments, academia and other NGOs to share insights and new research at its Public Sector Payments Forum in Washington D.C. Among the participants were World Bank, Universal Postal Union, The Fletcher School at Tufts University and the Southeastern Pennsylvania Transit Authority (SEPTA).
“Eighty-five percent of the world’s transactions are still being conducted in cash and checks,” said Ed Brandt, EVP, Managing Director, Government Services and Solutions at MasterCard. “Promoting a dialogue with governments, merchants and consumers is critical to creating greater shared value– greater efficiency, transparency and safety – as we move toward a world beyond cash.”
This public dialogue is gaining traction worldwide as the costs of cash become clearer:
Governments in partnership with the private sector are spurring greater financial inclusion, improving access to the economic mainstream. This trend is evident especially in examples of how wages and benefits are being distributed:
MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s 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 conversation on The Cashless Conversations Blog and subscribe for the latest news.
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Thursday, December 12, 2013
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