Mastercard Academy, one of the significant providers of high-quality learning solutions in the payments arena, has introduced a free self-paced online course called 'Master Your Card: Finance Demystified'. Built in partnership with the Mastercard Center for Inclusive Growth, this course seeks to arm participants with must-have financial skills, enabling the effective management of personal financial tools and overall financial health.
According to the latest S&P Global FinLit Survey, only 33% of adults – 35% of men and 30% of women – worldwide are financially literate. This means that around 3.5 billion adults, most of them in developing economies, lack an understanding of basic financial concepts.
Mastercard’s financial literacy program removes geographical barriers to financial education and promotes greater access to financial services in line with the company’s goal of connecting one billion individuals worldwide to the digital economy by 2025.
The engaging course features interactive lessons, quizzes and real-world examples across four key areas: electronic payments, budgeting, credit scores and financial security. Available worldwide, the new proposition underscores the importance of education in advancing Mastercard’s mission to power economies and empower people on a global scale.
“At Mastercard, we are dedicated to democratizing financial literacy and ensuring that everyone has access to the tools they need to achieve their financial goals. Our new free online course removes the confusing jargon and cracks the code on everyday finances. This way, it equips individuals, particularly those in underserved communities and young adults, with the knowledge and tools needed to manage their personal finance with confidence, achieve their financial goals and avoid common financial pitfalls”, said Driss Belemlih, Executive Vice President of Customer Delivery, EEMEA at Mastercard.
Additionally, Mastercard’s customers can leverage the free access to the course to reach the unbanked, youth and gig worker segments in their regions, helping integrate them into the digital economy and establish brand affinity early on.
A report published in The World Bank Economic Review shows that individuals who participate in financial education programs are likely to see a significant improvement in their financial knowledge and adopt more positive financial behaviors.
Mastercard Academy offers access to on-demand and instructor-led training from over 200 experts across Mastercard’s global network. Their comprehensive online learning platform equips the company’s customers and partners and now also the public with professional insights, skills and knowledge they need to succeed in the world of payments.
