In 2014, the EU adopted the Payment Accounts Directive, aiming to achieve greater financial inclusion in Europe. However, millions of people in Europe are still unbanked or underbanked.
These people are not always who we might imagine they are. According to a recent study across six different European countries, one third of the financially excluded people are in full time employment and 87% have lived in the same country all their lives.
These are just some of the results from Mastercard’s “Road to inclusion 2016” study. The results show the extent of financial inclusion in Europe and indicates that the road to inclusion is a digital one.
To learn more, read the full report.