Mastercard-IFC Launch $500 Million Initiative for Emerging Markets

Shibbir Ahmed, NEW YORK: Mastercard and the International Finance Corporation (IFC), a member of the World Bank Group, have launched a $500 million global risk facility aimed at expanding digital financial access in emerging markets.

Announced on September 9, the initiative is designed to help banks, fintech companies and other financial institutions in emerging markets participate more easily in international payment networks. The program will initially focus on emerging markets in Europe and Latin America.

The initiative seeks to reduce financial and risk-related barriers that can prevent local financial institutions from expanding digital payment services. By helping institutions manage international payment-related exposure, the facility is expected to support broader access to secure and modern financial services.

According to the World Bank Group, many banks and fintech companies in emerging markets face difficulties meeting the financial requirements needed to participate in global payment systems. These barriers can leave millions of consumers and small businesses dependent on cash and excluded from the digital economy. The initiative aims to help address that gap by expanding access to digital payments for consumers and businesses, including small enterprises and underserved communities.

According to IFC, the program could support a significant expansion of digital payment activity through participating financial institutions. The initiative is expected to potentially enable around $280 billion in additional digital payment volume, facilitate the issuance of approximately 360 million new cards and bring about 90 million new active users into digital payment systems.

Women are expected to account for a significant share of the new users, with approximately 39 million women potentially gaining access through the initiative. IFC Managing Director Makhtar Diop said expanding digital payments in emerging markets can help create economic opportunities and bring more people and businesses into the formal financial system.

Mastercard said the initiative is intended not only to increase access to financial services but also to strengthen security, trust and resilience across digital payment ecosystems. The program reflects growing efforts to expand financial inclusion in emerging markets, where digital payments are increasing but access to international payment infrastructure remains uneven. By reducing barriers for local financial institutions, Mastercard and IFC aim to help more consumers and businesses participate in the formal digital economy.