138 million people are financially excluded in Europe

Jun 22, 2017


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."


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.'

“For many people the concept of exclusion is often seen as a developing markets problem but today’s report shows clearly that this is as much of a problem in the perceived developed markets of Europe as it is around the world."
"Ann CairnsPresident InternationalMastercard

138.6 million financially excluded Europe (The World Bank, Dec 2016)

"The Road to Inclusion: Key Learnings Report from Mastercard Financial Inclusion Survey". 5 December 2016. Mastercard. Accessed 4th June 2017. PDF. 

About the Research
Mastercard conducted a face-to-face survey among 635 respondents in 6 markets (UK, Poland, Italy, Russia, France and Spain) across Europe. Interviewing for these surveys took place between 18th July and 10th August 2016. The margin of error for this study is +/- 3.0 percent at the total level, and +/-6.0 percent at the market level. The survey was administered by Ipsos, a global research and survey company.

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry.  We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.  Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.  Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

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Last Updated: Feb 7, 2020