MasterCard (NYSE:MA) and the World Food Programme ( WFP) today announced a global partnership that will use digital innovation to help people around the world to break the cycle of hunger and poverty. The game-changing partnership will combine MasterCard’s expertise in electronic payments systems with WFP’s global reach among the world’s hungriest populations to meet the nutritional needs of the most vulnerable.
“Our partnership with MasterCard is a great example of how transformative private sector partnerships innovate against hunger,” said Nancy Roman, WFP Director of Communications, Public Policy and Private Partnerships. Roman added that “by drawing on MasterCard’s technical know-how and international reach, WFP will further develop both its electronic voucher programme that enables hungry families around the globe to buy nutritious food in local markets as well as its online donation mechanism that engages individuals and brands in a global community working together to solve hunger.”
Where markets are stable, WFP often distributes vouchers that are redeemable in local shops for food and other staple items. These vouchers help boost local economies while allowing poor communities to receive food assistance with dignity. Through the “Digital Food Project,” MasterCard’s payment and technology expertise will help WFP to refine and improve its systems that deliver food vouchers via mobile phones or banking cards to people without regular access to banks or financial services.
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