Mastercard - 'Doing Good by Default': How This Vision of Consumer Protection Can Build Resilience
Mastercard emphasizes the need for a human upgrade in digital finance to enhance consumer protection and resilience. Despite increased bank account ownership, a report reveals that 75% of consumers are financially vulnerable. Experts advocate for designing financial systems with inclusion as a core principle, promoting collaboration among regulators, policymakers, and financial service providers. They stress that consumer protection fosters trust and resilience, enabling consumers to navigate financial challenges confidently. Transparency in digital finance is crucial for building trust, as many consumers struggle to understand fees and product suitability.
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