MasterCard wants the Indian government to issue welfare benefits electronically...using MasterCard

[marmar]

from the NY Times:



MUMBAI, India -- A DAY after the Indian government started a campaign to give identification numbers to all its 1.2 billion citizens, Ajay Banga, the newly minted chief executive of MasterCard, arrived in town, eager to lend a hand.

The program will identify people based on fingerprints and retina scans, and could make it easier for the government to route food stamps and other payments to people below the poverty line.

Mr. Banga says he believes he has a simple way to process the payments: via the MasterCard network.

“I wasn’t educated in the U.S.; I was educated in India. I understand what you are trying to do,” he said during a news conference at the Trident Hotel, in the financial center here. “I think it’s a huge opportunity for our government and people and companies like ours.” ...........(more)

The complete piece is at: http://www.nytimes.com/2010/10/17/business/global/17banga.html?adxnnl=1&hpw=&adxnnlx=1287327770-1mSBOGcknXw7N6/JD45uyQ

[msongs]

1. that way mastercard can get a slice of the action, to the detriment of the welfareites nt

[kenny blankenship]

2. Visa has announced a competing plan to achieve symbiosis with the government

Slogan : Visa - it's everywhere you're allowed to be.

Visa is the Official money of this year's Olympic host country, and 27 other nations around the globe.