A report by Mastercard was published on 5th December 2016 using findings from The World Bank and a survey of hundreds of people across six European countries. It was produced with the goal of achieving a better understanding of the state of financially excluded individuals in Europe. According to Ann Carins, President International of Mastercard, "Exclusion has a serious impact on a person’s quality of life, denying them basic benefits and choice including increased protection, convenience and access to the global economy."

Excerpts 

About this Report (5th Dec 2017)
'Financial exclusion defines those who are currently not able, or not willing, to fully participate in the banking services offered in their country. According to the World Bank, there are currently 138.6m people in this situation in Europe alone. This report revisits and expands upon the initial findings of Mastercard’s 2013 ‘Road to Inclusion’ research, conducted with the support of Ipsos MORI, whereupon the causes and effects of financial exclusion were explored using both quantitative and qualitative research methods.'

Press Release for report (12th Dec 2017)
'Mastercard today announced findings from new research into those who are financially excluded across Europe, finding a third (33%) are employed full time and 35% are aged 18-34. 138 million [1] Europeans are financially cut off from society – without a bank account or payment methods. Challenging common perceptions, this estimate is behind the Mastercard research into who these people are and why they are excluded.'