The digital wallet promises to reduce remittance fees for underbanked employees in the UAE by enabling transfers to up to five people for the price of one.

IFC and the Central Bank of Madagascar today announced a partnership to strengthen the country's public credit registry to improve credit reporting and increase access to finance for individuals and small businesses.

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The partnership will see the launch of two unique card products designed to meet the growing needs of businesses and underbanked individuals, supported by a feature-rich digital app powered by Mastercard’s secure, contactless payment technology.

The overall program objective is to increase the productivity of the participating actors in the agricultural value chains particularly affected by climate change.

Banks can draw on the facility to provide new loans and financing to individuals, small and medium-sized enterprises, and other private corporates affected by the virus fallout.