The Financial Wellbeing Institute (FWI) announces a strategic partnership with Mastercard to strengthen financial literacy in Cyprus through research, public awareness initiatives and a nationwide educational programme.
The initiative comes as financial wellbeing remains a key challenge for many citizens. According to the Financial Wellbeing Index 2025, presented by FWI with the support of Mastercard, financial wellbeing in Cyprus improved to 54.6 points compared to 2024. Yet almost four in ten Cypriots remain financially vulnerable or struggling, while 49.5% say financial issues cause them stress and anxiety.
Building on these findings, the partnership will translate research and expertise into practical guidance, public content and learning tools. Its aim is to help citizens better understand financial services, make informed decisions and navigate an increasingly digital financial environment with greater confidence.
The partnership focuses on three key initiatives:
• the Financial Wellbeing Index 2025, which measures key aspects of financial wellbeing in Cyprus, including financial security, resilience and stress. Its findings help identify citizens’ needs and guide actions that respond to real challenges.
• The Financial Wellbeing Talks – Podcast Series, a digital content initiative that transforms specialized knowledge into accessible guidance for the wider public. Topics include key issues shaping the future of financial services—electronic payments, the role of artificial intelligence, transaction security, and protection against digital fraud—areas that are central to Mastercard’s agenda and directly affect financial literacy.
• Empowering Youth through Digital Financial Literacy, a nationwide educational program featuring training sessions, workshops, and practical tools for young people aged 18–29. Mastercard will contribute its expertise in digital payments, secure transactions and the safe use of financial tools, supporting the development of learning content. This pioneering initiative aims to impact the lives of 3,000 young people across the country.
Together, these three pillars address the measurement of critical dimensions of citizens’ financial wellbeing, public awareness, and youth education. They are fully aligned with the spirit and objectives of the National Strategy for Financial Literacy and Education and seek to contribute to higher levels of financial wellbeing among the people of Cyprus. The youth program, in particular, has been designed to complement the work of the Cyprus Committee for the Promotion of Financial Literacy and Education (CCPFLE).
The agreement marks a significant scaling-up of the Institute’s activities. “Since its establishment, the Institute has built the scientific tools, public visibility, and institutional credibility needed to contribute meaningfully to financial literacy in Cyprus,” said Dr. Panayiotis H. Andreou, President of the Financial Wellbeing Institute. “Our partnership with Mastercard enables us to transform this foundation into measurable impact at the national level—not merely generating data, but converting it into capability for citizens, especially young people entering a financial environment that is more digital, more complex, and more demanding than anything previous generations have experienced. This collaboration demonstrates how targeted partnerships can help advance financial literacy and contribute to long-term financial wellbeing in Cyprus. »
For Mastercard, the partnership forms part of a broader, long-term commitment to financial inclusion and education. In Greece, Mastercard has already established a strong social footprint in the area of financial literacy, while today’s announcement marks its first comparable collaboration in Cyprus, with FWI selected as its partner to continue this work in the country.
From his side, Theodoros Hadjistyllis, Director, Account Management for Cyprus in Mastercard, stated: “At Mastercard, we recognize financial literacy as an important enabler for citizens’ participation in the new digital economy. It is not enough to develop technology and secure payment tools; it is equally important that citizens are able to understand them, trust them and use them confidently in their everyday lives. Our collaboration with the Financial Wellbeing Institute in Cyprus serves exactly this purpose. For us, this partnership is part of a long-term effort with clear focus and measurable impact for Cypriot society.”
