Emerging Payments Head Ed McLaughlin Leads Wharton Conference with Inclusion MessageJohn Gaffney |
Including the underbanked and moving toward a cashless society were the main themes on the part of MasterCard’s chief emerging payments officer Ed McLaughlin at the recent Wharton Social Impact Conference. Keynoting the event, McLaughlin told the conference that mobile devices will help include underbanked populations and give them access to the programs and financial freedom that are hindered by using cash.
Citing recent work in South Africa, he also said the journey to a cashless journey was on the right side of history.
“We at MasterCard are working in South Africa, with the government itself, to now bring financial inclusion to many of the very people who were so tragically and brutally excluded by the earlier governments,” McLaughlin said. “The arc of history does bend toward justice. We can start with a terrible situation and use the tools at our disposal to actually help all sorts of populations that were previously excluded.”