Over the past decade, digital credentials, mobile devices and real-time payment rails have altered how money moves and how people participate in commerce. Yet the evidence suggests that participation alone does not translate into resilience.

Mastercard’s latest commitment, outlined in its initiative to connect and protect 500 million consumers and small businesses by 2030, reflects that distinction between entry and durability.

From Access to Financial Health

Mastercard’s earlier efforts focused on expanding access, bringing large numbers of previously excluded users into the system through cards, wallets and acceptance networks. The current phase shifts attention toward what happens after that first connection.

Bunita Sawhney, chief consumer product officer at Mastercard, framed the issue in a recent interview with PYMNTS. “We do still have many people and businesses who do not have sufficient access, and those who do have access don’t have really frequent usage and healthy behaviors to help them get to financial health,” she said.

Financial health, in this context, extends beyond account ownership. It includes the ability to use tools regularly, build a transaction history and progress toward services such as credit or insurance. It also reflects whether consumers and businesses can withstand financial stress without exiting the system.

Why Gaps Persist

Despite gains in connectivity, structural barriers remain. In some regions, infrastructure has lagged. In others, the challenge lies in fragmented ecosystems where banks, networks, governments and technology providers have not aligned incentives or capabilities.

Sawhney pointed to a dual problem: access and usage. “There’s a job to be done on both sides,” she said.

She said 1 in 3 consumers do not have the ability to withstand an unexpected financial shock. That fragility reflects limited savings, irregular income and a lack of tools that support budgeting and planning. It also reflects gaps in acceptance. When merchants do not accept digital payments, consumers revert to cash, which interrupts the habit formation needed for sustained engagement.

Trust, Confidence and Behavior

The distinction between trust and confidence plays a central role in financial inclusion. Trust concerns whether individuals believe they can manage a financial tool. Confidence relates to whether they expect the system to protect them when something goes wrong.

Without those assurances, consumers may withdraw funds immediately or avoid digital channels altogether. That behavior limits the data trails and engagement that support access to broader financial services, Sawhney told PYMNTS.

Protection mechanisms, including dispute rights, fraud safeguards and refund processes, help address that hesitation. They also contribute to a sense of continuity that encourages repeated use.

Expanding connectivity now involves more than traditional banking relationships. Wallets, telecommunications providers and government-backed payment systems have become primary entry points in many markets.

Sawhney cited examples such as Brazil’s Pix and India’s UPI, where infrastructure has enabled scale but not always sustained usage. “Wallets are increasingly becoming the first place a consumer might go when they’re getting their first account,” she said.

Mastercard’s approach includes simplified products designed for affordability and distribution through nontraditional channels. The aim is to meet consumers and small businesses where they already transact, rather than requiring them to adopt unfamiliar systems.

Small Businesses at the Center

Small businesses sit at the intersection of consumer demand and financial infrastructure, yet they face similar barriers. Limited access to digital tools, combined with exposure to fraud and cyber risk, constrains their growth.

“Sixty percent of small businesses that endure a cyberattack … six months later, don’t make it,” Sawhney said. That vulnerability underscores the need for embedded protections and straightforward tools.

Digitization itself offers immediate benefits. Moving from cash-based processes to digital acceptance creates transaction records, improves visibility into cash flow and supports planning. “When we shift a business into a digital solution, that is a hurdle that we’ve helped overcome,” she told PYMNTS.

Protecting Participation

Security concerns can deter both consumers and merchants from deeper engagement. Rising fraud and cyber threats introduce friction at precisely the point where systems require trust to scale.

Protection, therefore, is not an adjunct to access but a prerequisite for it. Mastercard’s efforts include integrating safeguards into products and extending support through partnerships that address both technical and behavioral risks.

As ecosystems expand, the question of who owns the customer relationship becomes less clear. Banks, networks, wallets and platforms each contribute distinct functions.

Sawhney emphasized that no single entity can address the challenge alone. “This is not only a Mastercard game,” she said. “We need to be sharing information, we need to be sharing best practices, and we need to partner to service the customer.”

That approach has led to the formation of a coalition that brings together financial institutions, technology providers, governments and nongovernmental organizations. The objective is to coordinate efforts across the lifecycle of financial participation.

The scale of the task remains substantial, even after significant progress. The combination of digital infrastructure, behavioral tools and coordinated partnerships will determine whether the next phase delivers lasting outcomes.

Sawhney underscored the unfinished nature of the effort. “We’re really proud of where we’ve gotten to so far,” she said. “But we are really intentional about the work ahead, and we’re looking forward to helping bring people safely through the system.”