Mastercard and HSBC team up to boost sustainable urban development
Category: #business  By Nikita Chaurasia  Date: 2020-09-12
  • share
  • Twitter
  • Facebook
  • LinkedIn

Mastercard and HSBC team up to boost sustainable urban development

Mastercard Inc., an American multinational technology firm, reportedly announced its partnership with HSBC Holdings plc, one of the leading banking & financial services provider company. Sources aware of the development claimed that the two companies intend to boost sustainable urban development.

It is to be noted that Mastercard had initially introduced City Possible, a partnership & co-creation framework for cities. The company, along with HSBC, will combine their expertise, resources, and integrated urban development frameworks to the network of City Possible, sources claimed.

It appears that City Possible has enabled a framework wherein members can bring together collective resources and expertise of all stakeholders to develop innovative solutions that address urban challenges. Sources further cited that the platform focuses on co-creation and collaboration, promotes inclusive economic development, as well as helps in building strong communities.

As per the agreement, HSBC and Mastercard will develop an strategy to develop a sustainable financing solution for various infrastructure projects in net zero cities.

In this context, CEO of Mastercard, Ajay Banga mentioned in a comment that HSBC will enable the company to expand and scale the City Possible network, which apparently plays a pivotal role in building strong and inclusive communities.

Mark Tucker, Chairman of HSBC, was reported saying that cities across the globe will face challenges post the COVID-19 pandemic and will further encourage digital transformation and innovation. He further added that HSBC is committed to sustainability will ensure that cities adapt to the health imperatives while gaining economic growth.

If sources are to be believed, the two companies will focus on the network expansion of City Possible in an effort to include more locations where HSBC is active as well as business clients that offer urban services and city systems.

In other news, Mastercard and HSBC are also reportedly collaborating for developing a webinar series named HSBC Mastercard Power of Partnership- Building Back Better.

Source- https://www.businesswire.com/news/home/20200909006152/en/Mastercard-Launches-Partnership-HSBC-Promote-Sustainable-Inclusive

https://gulfbusiness.com/hsbc-bank-mastercard-partner-to-promote-sustainable-communities/

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Nikita Chaurasia    

Nikita Chaurasia

Having always been daft at wordplay, Nikita Chaurasia, post the completion of post-graduation, commenced her journey into the content generation cosmos. Endowed with a professional MBA degree in Advertising and Public Relations, Nikita strives to integrate her creativ...

Read More

More News By Nikita Chaurasia

Xiaomi shares drop by 7.1% after raising USD 3.9 billion in equity deal
Xiaomi shares drop by 7.1% after raising USD 3.9 billion in equity deal
By Nikita Chaurasia

Shares of Xiaomi Corporation, a Chinese multinational electronics company, witnessed a 7.1% drop during Hong Kong trading after the company secured USD 3.91 billion in fund raising which also included the city’s top-up placement. The company h...

Supercom signs a supply contract of PureSecurity EM suite in Wisconsin
Supercom signs a supply contract of PureSecurity EM suite in Wisconsin
By Nikita Chaurasia

Israel-based leading provider of advanced solutions for cybersecurity, IoT (Internet of Things) and e-Government sectors Supercom has reportedly signed a supply agreement to deliver its PureSecurity EM (Electronic Monitoring) product suite in Wiscons...

FAA grants approval for mass air shipment of Pfizer’s COVID-19 vaccine
FAA grants approval for mass air shipment of Pfizer’s COVID-19 vaccine
By Nikita Chaurasia

Chicago-headquartered airline company United Airlines Inc. has reportedly started operating charter flights for the distribution of Pfizer Inc.’s COVID-19 vaccine after receiving approval from the Federal Aviation Authority (FAA). For the reco...