Mastercard, a US-based technology and payments company; and Unilever, a UK-based supplier of consumer goods, recently announced that they will develop a partnership to provide access to digital technologies to small-scale entrepreneurs in developing countries with the aim of helping them buy supplies and sell goods more efficiently. The partnership’s first project will be to spread the use of Mastercard’s digital payment platforms via Unilever’s network of distributors in Kenya. The aim of the partnership is to reach 5.5 million low-income people in multiple countries by 2020.
Headquartered in the US state of New York, Mastercard is a payments and technology company connecting consumers, financial institutions, merchants and governments in approximately 210 countries and territories as of 2017. As of December 2015, Mastercard reported total assets of USD 16.3 billion.
Unilever is a UK-based supplier of food, home care, personal care and refreshment products in approximately 190 countries. As of 2016, the company reported total assets of EUR 56.4 billion (USD 60.97 billion), sales of EUR 52.7 billion (USD 56.97 billion) and an operating margin of 14.8 percent.
By Phoebe Rorke, Research Associate
Sources and Additional Resources
Mastercard:
Mastercard and Unilever Join Forces to Empower Small and Micro Businesses in Emerging Markets
Mastercard 2015 Financial Report
Unilever:
Unilever 2016 Annual Report
MicroCapital:
Mozido Raises $185m from Mastercard, Wellington Management, Individual Funders to Expand Operations
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