Mastercard Brazil (IFC-600728)

Countries
  • Brazil
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 19, 2015
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Mastercard Brazil
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 1.10 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 12, 2018

Disclosed by Bank Apr 6, 2017


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Project Description

The MasterCard mobile payment program will create a stored value account linked to a unique mobile phone number. A simplified registration process will ensure that potential users do not get discouraged from using the product. Furthermore, the solution is designed to provide access to a universal platform, adapted for use among smart- and feature-phone users, regardless of technology or device being used. The service offerings will be diverse, including bill payment, mobile top up, person-to-person payments, and social benefits payments. The project is intended to facilitate adoption of the new products. Through the elimination of high fees for services, reduced administrative costs, and unburdened registration, it is expected that consumers will opt for these channels to transact. A pre-paid card is also an optional part of the offer.

Expected Development Impact
The objective of this project is to support MasterCard directly (and Caixa Economica Federal and TIM indirectly) to introduce and roll-out a mobile money program targeting un/under banked low income people, particularly payment beneficiaries of the Brazilian government social welfare programs (Unemployment Program and Bolsa Familia, a wealth transfer program targeting low income families).

 

People Affected By This Project

The objective of this project is to support MasterCard directly (and Caixa Economica Federal and TIM indirectly) to introduce and roll-out a mobile money program targeting un/under banked low income people, particularly payment beneficiaries of the Brazilian government social welfare programs (Unemployment Program and Bolsa Familia, a wealth transfer program targeting low income families).

Investment Description
  • International Finance Corporation (IFC)
Contact Information

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/