The ‘Recovery Insights’ initiative includes data, tools and research based on aggregated and anonymised spending insights. It aims to inform economic response efforts from businesses and governments.

Mastercard said it is making some of its insight tools free to access for governments and ‘selected businesses’ as part of the service.

According to the company, these tools can be used for budget planning, to optimise aid payments and prioritise investment to those most affected by Covid-19.

Non-profit group Partnership for New York City is one of the organisations to have taken up the initiative to date.  

Miguel Gamino, executive vice-president, enterprise partnerships and head of global cities, Mastercard, said: “We're committed to helping government leaders take an evidence-based approach to policy and programme development.”