Mastercard, an American multinational financial service, is
working on a pilot project for the garment factory workers!
In agreement with apparel makers Levi Strauss & Co., Marks &
Spencer and VF Corp., and nonprofit BSR (Business for Social
Responsibility), the project aims at transforming the
workers’ cash wage payment system to digital.
Mastercard is working on pilot programmes in participating
factories in Egypt and Cambodia to test hybrid digital
payment systems, using any of the digital payment formats
like prepaid, debit cards or digital wallets so as to give
workers their paychecks.
The workers will be trained on using the digital financial
services and will be provided financial management help as
well. The service will enable the workers to use cards or
wallets to make payment or send money to family members
“At Mastercard, our vision is to ultimately build a new
ecosystem of partners – garment industry, technology,
not-for-profit organisations, factories, banks – that work
together to deliver social impact at scale. It’s an
important step in helping workers feel safer, be more
resilient and more financially independent,” said Sue
Kelsey, Executive Vice President, Prepaid Solutions,
Mastercard, in a press release.