 Welcome to ITU Telecom World 2016 in Bangkok, Thailand, where I'm very pleased to be joined at the ITU studio today by Carlos Cornejo, who is Senior Vice President, Group Head New Consumers, Public Sector of Humanitarian Products for MasterCard worldwide. Carlos, thank you very much for being with us at the studio today. Thank you for having me here. Now I'd like to start off by talking about mobile technology. It cuts across so many new client segments. How can solutions be adapted to meets the specific needs, in particular of the underserved and excluded consumer? That is a very good point because the penetration of the mobile services today is huge and it's in all the segments. But particularly on the underserved, it's something that is in some way lead throwing the traditional payment system. The traditional payment system, the history has been focused on the affluent or on the mass. On the underserved, the mobile is bringing new capabilities, new opportunities. What type of opportunities are those? If we think on the underserved, they are the ones that they have been living with cash all their life. And they have a mobile phone on their hands. That mobile phone could be a future phone or a smartphone. But that is a powerful tool because it's a way to engage with them and it's a way to start bringing some of the digital financial services. How is this? Today, they have basic needs that are using cash. That cash is bringing a lot of inconvenience. That cash is bringing insecurity. They are very special to attacks, assaults, robbery. The second one is the lack of convenience or they have a lot of things to do and to spend money when they need to pay a bill or when they need to send money to the relatives in the country or outside the country. Then the mobile is bringing a very convenient tool when we start managing the cash in an electronic way. And that mobile in combination with the car is what is bringing the most powerful tool for them. Because the car is the one that is allowing them to dip or swipe and very easily buy something. But the other, the mobile is the one that can bring for them the convenience to do not go to a utility brand and pay the bills from their houses or the taxi where they are working all day without losing a client, without losing money. The other is to have the control. If we are thinking on the car world, the car is not bringing the tool to control how much money I'm keeping in my pocket. But I need to have the control how much money I have in my pocket. Then the mobile is bringing that capacity as well. Plus, finally, the security. The security is something that both the car or the mobile will bring the protection to that money. That is allowing the underser to enter in the financial world with something that is more appealing to them. Something that is bringing more benefits than a simple car or the cash, the traditional cash. And in terms of public and private sectors, how do you think they can come together to resolve the challenges of financial inclusion? That is a very important point because today the challenges are many. And the public sector is playing a key role. We are here in the telecom war in the ITU where the telecom regulators are present here and we are talking to them because we were talking before about the importance of the mobile for the digital financial services. And obviously we have the traditional central banks and finance regulators. Then the public sector is playing a key role on the regulatory landscape. How they can allow or facilitate that technology, that integration on the underserved segment. And the private sector is the one that is bringing the investments. It is bringing the technology. It is bringing the innovation. Then the combination of the two sectors is when you have a powerful platform to help the underserved to enter in the financial mainstream. What creative and innovative ideas and solutions have you seen implemented to combat the exclusion and bring people into digital financial inclusion? Many, many. Every day we are working in several countries with many innovations, many new technologies. We are talking about biometrics. In this segment to remember a PIN could be a challenge. To play with the traditional POS and interact with that, another challenge. Or a traditional ATM. That for some of us could be very, very, I would say aggressive. The biometric is something that I am. Then if I can use the biometric to authenticate myself and to authenticate the transaction, that is something that we are leveraging. That in combination with the ID. The IDs they have evolved now on the chip card. Then the chip is micro, processor where we can have different applications. Financial applications and non-financial applications. Then we are seeing that synergy of different technologies. ID with biometrics, with payment capabilities. On that side to have payments you need to have the way to pay and the way to receive. On the receiving side we are seeing a lot of new technology coming. We are using QR codes. Something that is reducing the cost, the entry cost for the merchants to have a traditional POS or a dango today linked with a smartphone or a tablet. That QR code is reducing to have only a picture of the QR code and the transaction starts from the end consumer scanning the QR code and moving. Then the technology is something that is helping to reduce costs, bring efficiencies, bring more convenience to the end consumer what is critical to reduce the barriers that they can have with a traditional car, a traditional POS. Finally, what is the value in your opinion of attending events such as this Society Telecom World? For us it is critical. For us to be here, as you can see, the design of a very valuable and powerful solution for the end consumer, for the different players, banks, merchants, telecom operators. For us it is key to be in these forums and talk about what are our capabilities, what we can do together. I want to say ours is not MasterCard, is all together. That public-private partnership is something that we are trying to create and trying to embrace more from the telecom regulators, finance regulators, telecom operators and payment networks like us that we can organize that ecosystem, bring all of them together to the same table, work with the financial institutions that finally are the ones giving the financial product to the end consumer and integrating the different worlds because today everything is converging by everything is coming to the same place. Well thank you very much for sharing some very valuable insights and we wish you the very best for the rest of your time here. Carlos Coneca, thank you very much. Thank you very much for having me here.