The Government of Telangana has signed a Memorandum of Understanding (MoU) with Mastercard to formalize a digital state partnership aimed at delivering world-class solutions that contribute to the rapid digitization of the state’s citizen services, with a focus on small and medium-sized businesses (SMBs) and farmers.
The MoU was announced at the World Economic Forum in Davos in the presence of KT Rama Rao, Minister for ITE&C, Municipal Administration & Urban Development, and Industries & Commerce, Telangana and Michael Froman, Vice Chairman and President, Strategic Growth, Mastercard.
As part of this Digital State Partnership, Mastercard will collaborate with the state on priority areas including, but not limited to disbursements, digitization of agricultural supply chains, cybersecurity, and digital literacy.
The solutions are aimed at supporting disbursements in the state, building capacity among SMBs and enabling farmers to increase their incomes.
KT Rama Rao, Minister for ITE&C, Municipal Administration & Urban Development, and Industries & Commerce, Telangana, said, “As part of our vision of a Digital Telangana, we are excited to see the interest from global corporations. I am very happy to announce that we are partnering with Mastercard to further strengthen the ongoing efforts in the state by developing solutions to drive digitization. The collaboration will help the state bring better citizen experiences across the governance value chain, improve financial literacy and inclusion as well as bring higher efficiencies in services including disbursements of welfare schemes and payment solutions.”
“Mastercard is committed to contributing to a more inclusive, sustainable world, where the digital economy works for everyone, everywhere. The company has been working with governments around the world and leveraging the power of technology to expand financial and digital inclusion. Mastercard looks forward to working with the Government of Telangana on initiatives to accelerate digitization and positive change in the lives of its citizens and SMBs,” said Michael Froman, Vice Chairman and President, Strategic Growth, Mastercard.