Mastercard and MDEC Ink MoU To Drive Electronic Payments and Accelerate Financial Inclusion
Mastercard today signed a memorandum of understanding (MoU) with Malaysia Digital Economy Corporation (MDEC), an agency under the Ministry of Communications and Multimedia Malaysia (KKMM) to advance the digitalization of Malaysia’s economy, and support digital initiatives outlined in the government’s new PENJANA economic recovery plan. The partnership will focus on enabling e-commerce for micro, small-and-medium-sized enterprises (MSMEs); foster financial inclusion for unbanked and underbanked populations in rural communities; and drive adoption of digital disbursement solutions.
“The MoU between Mastercard and MDEC, the lead agency in driving the nation’s digital economy initiatives, brings a truly dynamic synergy that will see the sharing of best practices and knowledge-sharing between both parties to enable the economy’s digital transformation and fuel business growth in Malaysia. It is KKMM’s and MDEC’s aspiration to firmly establish Malaysia as the Heart of Digital ASEAN and reinforce its regional digital powerhouse role that engages global champions, such as Mastercard, by ensuring the digital economy will drive shared prosperity for all Malaysians as well as the region,” said YB Datuk Zahidi Zainul Abidin, Deputy Minister of Communications and Multimedia Malaysia.