Paymentology and Mastercard Join Forces to Foster Financial Inclusions in Northern Central America
Paymentology, the leading global issuer-processor, today announces an expanded partnership with Mastercard to bolster financial inclusion across Guatemala, Honduras, and El Salvador.
According to a recent Mastercard and Americas Market Intelligence (AMI) study, while most Latin Americans gained access to basic financial products between 2020 and 2023, 21 percent still rely exclusively on cash and are still excluded. Furthermore, in Guatemala, Honduras, and El Salvador, only one in four banked adults possess a debit or credit card, further emphasizing the obstacles in accessing the financial system within the region.
Mastercard, a founding member of the Partnership for Central America (PCA), has committed to bringing 5 million people and 1 million micro, small and medium enterprises (SMEs) into the digital economy, including 300,000 businesses run by women, over five years.