Mastercard Unveils Recovery Insights Initiative to Inform Business & Government Economic Response Efforts

Mastercard (NYSE: MA) recently announced it is extending its COVID-19 commitments by Recovery Insights, a set of tools, innovation, and research. The data insight and tools will be provided to New York City, London, Madrid, the state of Arizona, and other governments. While sharing more details about the insight features, Mastercard stated:

“To assess the local effects of COVID-19 and build a foundation for an inclusive recovery, dozens of cities (including New York City, London, Barcelona, Madrid, Los Angeles and Logan City, Australia), states (Arizona) and national governments (Turespaña, Ministry of Industry, Trade and Tourism of Spain) are now using Mastercard tools. These solutions help inform budget planning, optimize aid disbursement, understand which merchants are open for business, and prioritize investment to support those most impacted by the pandemic.”

Mastercard further revealed it is working closely with local institutions, trade organizations, and other groups on recovery efforts. For instance, the non-profit Partnership for New York City provides its business, civic, and labor members a regular snapshot of NYC sales performance in the broader context of consumer spending trends.

“The Mastercard Recovery Insights initiative will also feature a research series about the short- and long-term impacts of COVID-19 on economies, businesses and people. The first report, available in June, will focus on the retail sector’s shift to digital.”

Miguel Gamino, Executive Vice President of Enterprise Partnerships and Head of Global Cities at Mastercard, added:

“Given the multitude of challenges today, they’re activating our network to support areas ranging from aid disbursements to emergency fundraising to cyber security assessments and identity theft protection. It’s about building more inclusive economies for everyone, everywhere.”