The Government of Ukraine and Mastercard, a global payments technology company, signedMemorandum of Understanding, launching a partnership to strengthen the country’s digitalization. The signing took place on November 12, on the eve of the Rebuild Ukraine conference in Warsaw, Poland.
The document was signed by the Minister of Economy, Environment and Agriculture of Ukraine Oleksiy Sobolev and the General Director of Mastercard in Ukraine and Moldova Inga Andreeva during a meeting with the participation of Mastercard’s Director of Public Policy and Government Relations Tucker Foote.
The initiative aims to accelerate the implementation of the country’s digital strategy by leveraging Mastercard’s expertise in payment innovation, digital infrastructure, and cybersecurity solutions.
“Partnering with Mastercard is a step towards creating a modern, secure and inclusive digital economy in Ukraine. We integrate the best international technological solutions in the field of financial services, electronic payments and cybersecurity so that the state, business and citizens can work in a common digital environment. Such initiatives help increase the efficiency of government services and the availability of financial instruments and open up new opportunities for the development of small businesses and attracting investments in the digital infrastructure of Ukraine”, — emphasized Oleksiy Sobolev.
The cooperation between the Government of Ukraine and Mastercard will focus on four main areas that will contribute to the development of an inclusive and secure digital economy:
- Financial security and inclusion: building and scaling unified digital solutions to simplify government payments; applying analytics and AI-based tools to make informed social decisions; supporting small and medium-sized businesses through dedicated solutions and programs to increase digital maturity.
- Travel and transport: digital transformation of public transport by modernizing payment and ticketing systems, improving user experience and increasing accessibility; stimulating innovation and competitiveness in the tourism sector through modern digital tools and data analytics.
- Digitalization and innovation: creating scalable solutions in digital identification, financial inclusion and cybersecurity; developing, testing and implementing solutions based on artificial intelligence; developing GovTech, the fintech industry and supporting the startup ecosystem.
- Cyber resilience and payment security: developing comprehensive mechanisms to counter new cyber threats through modern digital risk management systems; protecting critical infrastructure and increasing the resilience of digital ecosystems through multilateral partnerships.
The memorandum lays the foundation for a five-year cooperation focused on further strengthening the country’s digital transformation and provides for the identification of specific areas of work with the participation of representatives of the public and private sectors.
