PURCHASE, N.Y.—Small businesses and individuals having a hard time entering the digital economy are getting a boost from Mastercard as the need to receive funds electronically and make digital and contactless payments has been underscored by the COVID-19 pandemic.
The payment processing company is pledging to connect one-billion people and 50-million small businesses to the digital economy by 2025, USA Today reported.
Nationally, 6.5% of households in 2017 did not have bank accounts, and 18.7% had accounts but also used financial services outside of insured institutions, USA Today said.