Mastercard, with the USAID Economic Security Program and the Ministry of Economy and Sustainable Development of Georgia‘s support, plans to develop and launch a three-year Georgia Digital Partnership Program. This program will include a number of initiatives and programs involving the private and the public sectors.
A Memorandum of Understanding was signed between Mastercard Economic Security Program and USAID to accelerate the digitalization process in the country.
Mastercard has launched a digital partner program in partnership with USAID’s Economic Security Program and the Ministry of Economy and Sustainable Development. This initiative will also help small and medium businesses to digitalize and increase their e-commerce options. This program also uses data analytics to promote tourism and develops the existing ecosystem to make better decisions in fintech.
At the signing ceremony, USAID and Mastercard officials as well as representatives from the Georgian business community attended.
“We are celebrating USAID’s newest cooperation with Mastercard. We will be focusing on the digitalization. We will work with Mastercard to strengthen the digital industry and make it a global competitor. We look forward in partnering with Mastercard, to expand our partnerships and help businesses expand and create high-paying job opportunities across the country,” stated USAID/Georgia mission director Peter Wiebler.
“I am proud that Mastercard has operated in Georgia for over 22 years. During this period, we have introduced a number of innovative payment methods and worked with major players in payment industry. We are willing to work closely with all stakeholders on the path of digitalization of the country. Georgia is one of the fastest-growing markets for cashless payments among developing countries. This means that Georgia is on the road to a digital-based economy,” said Yasemin Bdir, Divisional president of Mastercard Eastern Europe.
As part of the MoU, companies will also help small and medium sized businesses develop and create more effective business operations, improve basic connections, and receive additional income. Mastercard and USAID Economic Security Program are working with all interested parties to create a fintech ecosystem. They will also help small, beginner companies grow and establish on the international stage.
“With this project, important fields such as tourism, innovation, ecommerce, and small and medium-sized business will be developed. All of these things will help to strengthen the Georgian economy. The fields that were affected by Covid will also recover. We will be able diversify businesses and platforms including sales platforms. This will ultimately contribute to strengthening the Georgian private sector.
It is also planned to implement financial and inclusive projects within the cooperation of companies in order to accelerate the digital transformation of the country, improve existing infrastructure, and develop the digital eco-system which is crucial for a modern and strong economy.
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