MasterCard has introduced Partners in Prepaid, a new initiative to enhance collaboration with partners and customers globally and drive growth in prepaid.

MasterCard said that the Partners in Prepaid initiative is designed to focus on sharing global best practices in thought leadership, investments in partner growth and simplified interactions.

The initiative will offer an approach to help participants capitalize on the opportunities that prepaid offers and deliver impactful programs that meet the needs of consumer, corporate and government users.

MasterCard added that it will leverage multiple channels including its Web 2.0 capabilities to encourage sharing of information and closer interaction with MasterCard. MasterCard Partners in Prepaid will also create opportunities for participants to interact with each other. The program is open to MasterCard industry partners at free of charge.

Tim Murphy, chief product officer at MasterCard, said: “MasterCard Partners in Prepaid will facilitate collaboration and harness the industry’s shared passion for prepaid to deliver the innovative payment solutions that drive growth in the sector.”

Laura Kelly, executive vice president of global prepaid and healthcare solutions at MasterCard, said: “Prepaid has achieved remarkable growth, and welcomed millions of people into the financial mainstream. MasterCard is committed to accelerating momentum globally by actively fostering an open dialogue and promoting collaboration to drive innovation and realize the full potential of prepaid.”