Panelists at the event included, from left to right, Jeanne Hogarth, Center for Financial Services Innovation; J. Phillip Thompson, Massachusetts Institute of Technology; Shawn Miles, MasterCard; and Marla Bilonick, Latino Economic Development Center. Photo credit: Nathan Mitchell/NPC

WASHINGTON — Electronic payments have already started helping low-income consumers manage money.

But if financial institutions, community organizations and government collaborated, they could help them so much more, according to a panel of academics, payment executives and community leaders who convened at the National Press Club July 17 to discuss new research released by J. Phillip Thompson, Ph.D., associate professor in the Department of Urban Studies and Planning at Massachusetts Institute of Technology. The event was hosted by The Center for Financial Services Innovation and Master Your Card, MasterCard’s public education campaign.

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