One-third of the U.S. workforce juggles multiple jobs, dealing with varying paychecks and inconsistent benefits. The Inclusive Futures Project will address the challenges of those 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 Craig Vosburg, Mastercard’s North America president.
The program will focus on three areas. The first, Digital Solutions, will assist in managing finances and speeding up payments. Mastercard and Care.com, the world’s top web-based service for finding and managing care for families, will enable caregivers to more easily manage variable cash flows by providing budget management and real-time payment tools.
The second area, Government Services, will provide greater innovation and efficiency. Mastercard and Square will partner with municipalities in Cleveland and New Orleans to form educational workshops for small business owners and entrepreneurs, with the goal of improving financial literacy.
“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 for 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.”
Finally, the third area, Smart Cities, will work toward a digitally inclusive future. Through City Possible, a public-private sector program, Mastercard will partner with cities and corporate partners to create solutions for more sustainable and inclusive urban economies.