Mastercard Launches Free Online Course for Financial Literacy

Mastercard Launches Free Online Course for Financial Literacy.

Individuals, particularly those in underserved regions and young adults, will soon have access to essential tools and knowledge to manage personal finances.

Mastercard Academy, a global leader in training solutions, has launched a free online financial literacy course, Master Your Card: Finance Demystified.

This initiative, in collaboration with the Mastercard Center for Inclusive Growth, aims to empower individuals with the skills needed to navigate complex financial tools and enhance their financial well-being.

According to Mastercard’s press release, a global financial literacy survey reveals that only 33% of adults—35% of men and 30% of women—are financially literate.

This statistic highlights that approximately 3.5 billion adults worldwide, predominantly in developing economies, lack an understanding of basic financial concepts.

The financial literacy gap is evident in Kenya, where only 38% of the population is financially literate, as per the 2021 Global Financial Literacy Survey.

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This is slightly below Tanzania’s 40% and South Africa’s 42%, underscoring the need for targeted interventions.

Innovative Financial Education Solutions

The Master Your Card course offers interactive lessons, quizzes, and practical examples in four key areas: electronic payments, budgeting, credit scores, and financial security.

By removing geographical barriers, Mastercard seeks to promote wider access to financial education, supporting its goal of connecting one billion individuals to the digital economy by 2025.

Driss Belemlih, Executive Vice President of Customer Delivery in Eastern Europe, the Middle East, and Africa (EEMEA) at Mastercard, stated that individuals who complete the program would not only gain confidence in managing finances but also achieve their financial goals and avoid common pitfalls.

He emphasized that the course simplifies complex financial jargon to make financial literacy accessible to all.

A report from The World Bank Economic Review indicates that participation in financial education programs leads to significant improvements in financial knowledge and fosters positive financial behaviors.

Mastercard’s initiative aligns with its mission to power economies and empower individuals globally by integrating unbanked, youth, and gig workers into the digital economy.

Comprehensive Training for Diverse Audiences

Mastercard Academy typically provides on-demand and instructor-led training to over 200 experts across its global network.

Through this platform, Mastercard equips customers, partners, and now the public with insights, skills, and expertise needed for success in payments.

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The new course extends these benefits, reinforcing Mastercard’s dedication to democratizing financial literacy and promoting financial inclusion worldwide.

Mastercard Launches Free Online Course for Financial Literacy.

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