Financial inclusion, the digital divide and other thoughts on the future of money | Ajay Banga

Roughly two billion people worldwide don't have access to banks or financial services like credit, insurance and investment -- or even a way to formally prove their identity. How do we bridge this divide? Mastercard CEO Ajay Banga sits down with TED current affairs curator Whitney Pennington Rodgers to discuss how innovative public-private partnerships can help bring everyone into the digital economy -- and why COVID-19 recovery hinges on financial inclusion.

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[ryanraut]

He is such an articulate person. The way he speaks is extremely mesmerizing. Respect to you, Sir!

[amanyabouzeid]

I am impressed by how corporates can spin anything using all the correct words ‘fighting corruption’ & ‘inclusion’ etc to increase their control & maximise their profits!!!!

[Eastwoodx]

A lot of people in this world don’t live in a system where they even need this afforded to them. They live on a subsistence level.

[jfinney]

Just before the 8 minute mark he says, "we need to educate them how to use their credit."

We need to teach these type of real life skills in our public school system here in America. I really think that would help our citizens and our economy if young adults that maybe didn't have parents teach them financial skills didn't come into adulthood with no idea about the rewards and consequences of utilizing banking and credit.

[luksaxtenor]

Yeah, an ability to create debt hitting the ceiling is a blessing to the whole humanity... Letting the corporations know what one buys is another astonishing idea leading towards freedom...

[JogBird]

how about doing something about the 30% interest rate

[rogeliocamargo]

I only use a bank to get paid. But have no credit card or debit and I live just fine. Trying to bring the bank to the people who don't even need it? Sounds like they trying to take a cut from everyone!
I live in a city and get around just fine. This is bad.

[eileenfostel]

Sounds like a way to keep tabs on the people, and shut them down away from their money(electronic) if they are seen as non-compliant in other ways. No thank you.

[jennycoffey]

What it looks like is farming supplies and standards for credit are not sustainable and cause these people to lose their futures

[rogeliocamargo]

They should do financial management courses for the ones that do have accounts. That's how they can help.

[elinope]

I think there are a lot of people who are under-banked and under-heroined. We can take more from them!

[.Koreans.American]

I lost my job in 2020 but my 2021 will be great because I’m going to build multiple income streams on my own without relying on someone else. 💪

[rdhamapurkar]

Hi, I was wondering when we talk about today's money, we say it's created from thin air. There is no backing like gold for this money. I was thinking the money printing is done by cutting trees, why don't we have a system, where the entire money supply is backed by valuable trees which have value and usability, plus they are life force on this planet.

This way we will value the trees plus we will save the planet and stop Govts to print money as and when they want it. Please share your thought and if someone from Economics can explain about it, whether it is possible or not.

[Asli_Dexter]

Why don’t such smart people run for elections....it’s so annoying that we are stuck with uneducated leaders who are extremely inefficient

[Luigio]

With every financial exclusion problem he mentioned I thought of what Cardano (decentralised public blockchain) is doing.

[noksify]

A big part of financial inclusion is the cost of those financial services. It is huge deterrent for small to medium businesses, and almost out of the question for informal businesses.

[TrueCrimeQueen]

LOVE THE CHANNEL! STAY SAFE EVERYONE 🙏😇❤️

[simonefeo]

Let' s do this here in Olbia, Costa Smeralda, Sardinia.

[kevinhartwig]

But there are many people who don’t want to be connected to the system. Why is it so important that the hierarchy know everything about everybody. No thanks

[satsapar]

It would be nice if you could add Kazakh subtitles for your chats, please!