PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

600728

Primary Business Area

Financial Institutions Group

Disclosure Date

Apr 5, 2017

Country

Brazil

Region

Latin America and the Caribbean

IFC Approval Date

Oct 19, 2015

Status

Completed

Estimated Total Budget

Estimated Budget Pending
(Project budget includes all project-funded activities)

Last Updated Date

Aug 2, 2019

Project Estimated Start Date

Jul 20, 2015

Project Estimated End Date

Jun 30, 2017

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.

Development Results

E&S Risks / Impacts and Mitigation