MasterCard will work with 100 Resilient Cities (100RC) to help cities understand the risks of a cash-based economy and the opportunities associated with converting to digital payments. The announcement was made in the background of the ongoing World Cities Summit in Singapore. The program is pioneered by the Rockefeller Foundation, to use its technology and expertise in digital payments to advise member cities across a range of projects. MasterCard will assist 100RC members in the creation and implementation of resilience strategies, help deliver payments infrastructure and technology solutions to support those strategies, and share lessons learned to inform other cities. MasterCard is currently engaged with governments on more than 1,300 programs in more than 60 countries to reduce the reliance on cash and address payment needs such as social benefits, government payroll, procurement, government receipts, and transit among others. The 100RC Platform of Partners is a group of private, public, non-profit, academic and government organizations that provide free tools, services, and expertise to 100RC members. In total, 100RC Platform Partner services value greater than $200m. The 100RC partnership will allow MasterCard to expand the reach and impact of their existing expertise to more cities, and further the mission and vision of 100RC to help cities around the world become more resilient to the physical, social, and economic challenges that are a growing part of the 21st century world.
