The initiative aims to improve the financial resilience and security of small businesses through last-mile delivery of high-value services across five Indian states.
New Delhi, 2 July 2024: Haqdarshak Empowerment Solutions Pvt Ltd (Haqdarshak) and the Mastercard Center for Inclusive Growth (CFIG) today announced their collaboration to improve the financial resilience of 1,000 Haqdarshak women agents, who will provide last-mile delivery of services that increase the financial security of 500,000 micro and small enterprises (MSEs) and agri-entrepreneurs. The initiative is part of Mastercard’s Strive in India program and will be rolled out across five states, namely, Madhya Pradesh, Maharashtra, Uttar Pradesh, Telangana, and Karnataka.
As part of the collaboration, Haqdarshak will develop, test, and scale a new specialist sales training methodology to transform 1,000 of its highest performing women agents into entrepreneurs who specialize in the doorstep delivery of high-value services for MSEs and agri-entrepreneurs, elevating their income and improving their financial resilience. They will also develop partnerships with market players to introduce new services onto the Haqdarshak platform. These services include credit, market linkages and government welfare programs.
These women agents will leverage Haqdarshak’s proprietary mobile app and database of over 10,000 government welfare programs and private market services to provide last-mile delivery of services to MSEs and agri-entrepreneurs — the majority of whom will be women —and catalyze $153 million in credit and market linkages, government schemes and other benefits.
Aniket Doegar, Co-founder and CEO of Haqdarshak, said, “With this initiative, we, at Haqdarshak, will be taking a huge leap in the capacity building of our women agent network who are the most critical component of our service delivery. With an ambitious aim of maintaining an active network of 100,000 Haqdarshaks by 2030, we are thankful to the Mastercard Center for Inclusive Growth for their support to build the foundation for our scale up. This initiative will also contribute to the Indian government’s Lakhpati Didi scheme. Overall, with this organizational support, I am confident Haqdarshak will be poised to impact 100 million end users by 2030.”
“Unlocking the potential of agri and women entrepreneurs is crucial to turning the vision of Viksit Bharat into reality. Mastercard’s experience of working with these sections has shown that if provided the right training and tools, they can empower their communities. This collaboration with Haqdarshak aims to leverage digitization to ensure their financial security and resilience, allowing them to act as agents of change in India’s transformative journey,” said Gautam Aggarwal, Division President, South Asia at Mastercard
“Mastercard is delighted to mark the 10-year anniversary of its Center for Inclusive Growth with a partnership that leverages the catalytic role of the private sector to drive inclusive innovation and reinforces the commitment to enable MSEs to succeed in the digital economy. This collaboration combines the power of technology, social enterprise, and corporate philanthropy to expand economic opportunities and bolster financial health for women entrepreneurs,” said Subhashini Chandran, Vice President, Social Impact, Asia Pacific, Mastercard Center for Inclusive Growth.
Haqdarshak is a social protection and financial inclusion-focused organization providing blended tech-and-touch services for the doorstep delivery of welfare entitlements for individuals and businesses, delivered via their agent network of ‘Haqdarshaks’.
This initiative sits within the Mastercard Strive in India program, which aims to enable micro and small enterprises (MSEs) to succeed in the digital economy, prioritizing women and agri-entrepreneurs. Mastercard Strive is a portfolio of philanthropic programs – supported by the Mastercard Center for Inclusive Growth – aimed at helping small businesses worldwide thrive in the digital economy.
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About Haqdarshak, www.haqdarshak.com
Haqdarshak is a social enterprise that uses technology to enable identification of eligible government welfare programs based on socio-economic profile information of individuals and businesses. Its agent network further provides support services to end users to avail benefits from such programs. Haqdarshak has an assisted-tech model wherein a mobile app is used by field agents to improve awareness about welfare programs and increase entitlement uptake in the community while earning a livelihood in this process. Currently Haqdarshak is operational in 23 states and has impacted 6.43 million Indian households unlocking $2.2 billion in benefits.
About the Mastercard Center for Inclusive Growth
The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages the company’s core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
