Mastercard and IFC bolstered their partnership to drive financial inclusion, updating a $250 million global risk-sharing facility to expand access to electronic payments in emerging markets. 
 
Electronic payments help underserved people and small businesses more fully participate in the formal economy. Yet, financial institutions in emerging markets often have difficulty covering their transaction settlement obligations, making it harder to rapidly scale financial services where they are needed most. 
 
Updating an agreement originally signed in 2015, the revised agreement between IFC and Mastercard helps financial institutions in developing countries participate in the Mastercard network more effectively through a program in which IFC will guarantee up to 100 percent of the settlement risk. The new agreement will support a major expansion of the program to more participating banks and financial institutions.