Mastercard signs digital country partnership with Panama

By Pavithra R

Mastercard has announced partnering with the Panamanian Government in the development of the government’s digitization agenda, providing its knowledge and experience as an innovative leader in payments, digital infrastructure, security, and solutions for cyber fraud.

Through the collaboration, Mastercard will support the government’s efforts to provide training and continuous education to its citizens and small business owners.

“At Mastercard, we know the power and economic value of digital payments, especially at a time when Panamanians require flexible financial tools that empower them to boost their businesses amidst digital transformation. This partnership, the first of its kind in Latin America, will combine Mastercard’s capabilities and experience as an industry leader, to drive a program that facilitates digital acceleration in areas such as commerce, social benefit sharing, transportation, tourism, and economic development for small and medium-sized companies, thus creating a future in which technology acts as an inclusive enabler of national progress,” said Michael Froman, Vice Chairman and President of Strategic Growth for Mastercard.

The agreement describes a series of initiatives focused on digitizing payments, financial inclusion, and economic development, with programs that include direct benefits for its citizens. The company is committed to working with the Panamanian Government Innovation Authority (AIG), to provide access to cybersecurity solutions and Mastercard Digital ID, as well as to create an education strategy for the national cybersecurity plan.

“Mastercard is committed to Panama because we understand the significant progress made in digital government through the implementation of initiatives for the simplification, standardization and modernization of government processes. Our contribution by promoting electronic payments helps strengthen the economy through the introduction of efficient and reliable financial inclusion solutions with tangible benefits for citizens.” said Germán Rosón, Mastercard Country Manager for Panama and El Salvador.