Continuing in our theme of Fintech for Bharat, this week we look at the role that networks can play in fostering financial inclusion.
Payment networks sit at the crossroads and provide the rails that connect merchants accepting payments and banks that issue payment instruments. Therefore when a payment network like Mastercard makes a pledge to financially include 1 billion people and 50 million micro and small businesses into the digital economy by 2025, it certainly has the potential to be transformative !!!
To discuss this and more we caught up with Vikas Saraogi,VP – Merchant Acceptance, South Asia, Mastercard. In the episode we cover:
- Key indicators of adoption of financial services in Bharat
- Challenges that are faced in expanding payment acceptance in Bharat
- Trends in digital payments & improvements in payment security
- Supporting the digitization of agriculture
- Mastercard’s financial inclusion initiatives
So tune in to learn everything you wanted to know about how Mastercard is helping in foster financial inclusion agenda in India
Timeline
00:00 Start
00:43 Introduction
01:40 About Vikas
03:35 Indicators and scope for improvement in access to financial services
07:54 Challenges in expanding payment acceptance in Bharat
12:12 Trends in digital payments & security during the pandemic
18:27 Supporting the digitization of agriculture
21:57 About Mastercard’s financial inclusion initiatives