Mastercard is working with the city of New Orleans to launch a card program designed to boost financial inclusion and provide better access to services.
According to Mayor LaToya Cantrell, the Crescent City Charter program sees Mastercard and city operations and Movement Capital Finance (MoCaFi) in a series of initiatives aimed at empowering banks.
The Hurricane Ida emergency relief program has already provided $ 190,000 to residents through the EmCaFi Emergency Card, which acts like a bank card for quick and easy use.
With the help of $ 500,000 from the Mayor for Donations, 125 young people are joining the New Orleans fundraising program starting in December and earning $ 350 a month for 10 months through the MoCaFi Program Tali Card. The card also offers access to entertainment venues through wireless technology.
Mayor Cantrell said: “My government continues to find new ways to serve and empower our citizens and to ensure that undocumented people invest and get an education, and to be able to meet the same needs and continue to save money on their own.”
Linda Kirkpatrick, president of Mastercard North America, said: “With our innovations and tips, Mastercard is helping cities like New Orleans to resume justice and with a positive mindset to prepare for a better future.”