How Mastercard Is Bringing Digital Payments to the Global Garment Industry

The video discusses the adoption of digital payments, highlighting partnerships with major brands to digitize payrolls in labor-intensive industries like garment manufacturing. It addresses the challenges faced by the unbanked population, with a focus on financial inclusion efforts by organizations like the World Bank and Mastercard. The video emphasizes the importance of empowering women in the garment industry, noting that many lack financial literacy. Initiatives are underway to provide training and support, which not only benefits the women but also their families and future generations.

What are some benefits of digitizing payrolls in industries like garment manufacturing?

• Reduced operational costs and increased transparency

• Decreased worker satisfaction

• Increased cash flow for companies

• Higher taxes for workers

What is the estimated number of unbanked people worldwide according to the World Bank?

• 2 billion

• 500 million

• 230 million

• 1.7 billion

What percentage of workers in the garment industry are women?

• 60%

• 50%

• 70%

• 80%

Why is it important to focus on financial literacy programs for women in the garment industry?

• Women often pass financial knowledge to their children

• Men are more financially literate

• Women tend to spend more on luxury items

• Women are less likely to share financial knowledge

What is one of the key reasons for focusing on women in economic inclusion efforts?

• Women create environments of healthy financial habits

• Women are the primary earners in most families

• Women have higher savings rates than men

• Women are less likely to work in labor-intensive industries