 Welcome to ITU Telecom World 2016 from Bangkok, Thailand. I'm very pleased to be joined in the studio today by Yvette Oh, who is the Executive Vice President for Market Development, APMEA, International Markets for MasterCard Worldwide. Yvette, thank you very much. Yes, it's my pleasure to be here. Now, I'd like to start off by talking about partnerships and collaboration in digital financial services. How do you think we can drive these better? I think, you know, the stakeholders in the ecosystem, they should have one common goal, and that common objective or goal is really to develop the best user experience that meets the needs of the users themselves. So, at the end of the day, it means driving partnerships, right? And partnerships will actually lead to interoperability. So, besides the user experience, the customer first approach, which is important, I think there are other ingredients that are going to be really necessary for the effective partnerships to work. I'm talking about rules, standards, then it will basically, at the end of the day, result in consistent user experience. The role of regulators as well, because it is very important that they implement regulations of policy, which will allow the stakeholders to work together in an effective partnership approach. And last but not least, I think it's really around just leveraging each other's assets and capabilities and just driving that collaboration. And I think we have a very excellent model that exists in partnerships. In Egypt, for example, Mastercard has been working with the regulator, the banks, the telcos, and even other payment service providers like bill payment aggregators to deliver government benefits to consumers so that they have access to transaction accounts, store their money, be able to actually use their money to send and pay for airtime top-up, as well as pay for goods and services at merchants and even access certain government services. Now that's some of the opportunities. What about the challenges involved? I think it's really the lack of interoperability. There are many models that exist today. Multiple models, the Banklet model, the Telco model, the Over-the-Counter model. And I think this really forces partnerships, leveraging, as I said earlier on, the capabilities that the different partners bring together. And I think the other ingredient is also going to be the collaboration and synergies between the financial and the telco regulators. I think that's critical if you think about scaling up financial inclusion deployments. So there may be examples. Give you a simple scenario where the user gets really confused and you're talking about financially excluded people whose literacy level is pretty low. And if they have government disbursements going into an account and then they have to load their wallet to do airtime top-up, use cash to pay for groceries, it's really confusing for them. What's needed, in your opinion, in terms of ecosystem development for digital financial services to achieve their full potential? So this is actually a classic chicken and egg situation. So for these providers, it's a question of do I have enough account holders to be on my platform or on their platform before they build the points of acceptance or where consumers can use their products? Or is it the other way around? Do they invest in the acceptance or the points of usage infrastructure before they bring in enough consumers onto their platform? So again, it drives back to the whole issue around partnerships collaboration. The partnership is not only between the public sector and the private sector. As I said earlier on, even collaboration amongst the regulators is going to be really important. So in Mexico, just as an example, we have actually enabled government disbursements into bank accounts. And the market realized that there are millions of these consumers who have access to funds electronically. So what they're saying is that there is an opportunity now for us to actually develop low-cost acceptance solutions to really address this opportunity, this potential of customers that exist in the ecosystem. So I think for the providers as well, the other thing that I think they need to look at as part of the expansion strategy is to identify the huge inflows. By huge inflows, I mean salary payments, pensions, even remittances. Now, ITU Telecom World is a forum which brings together very important players from around the globe, such as yourself. I just wanted to find out for you, what's the value of attending events such as this? Oh, I see a lot of value in attending this event. I mean, you know, it's, you know, meeting, you know, networking with, you know, the regulators, with the telcos, with all the industry players here. And as I said, you know, the potential partnerships and collaboration that we can actually look forward to. You're better. Thank you very much indeed. You're most welcome.