MasterCard Inc. (NYSE:MA) Supporting SMEs In Digital Transformation In Asia Pacific

MasterCard Inc. (NYSE:MA) has introduced a Digital Acceleration for Small Business center in the Asia Pacific as the company seeks to expedite digital transformation for small- and medium enterprises.

SMEs to benefit from MasterCard’s digital transformation initiative

So far the company has launched the center across its English language websites for Malaysia, Singapore, the Philippines, Thailand, India, Hong Kong, and Southeast Asia. MasterCard plans to introduce the center on non-English sites in the coming days. Asia Pacific SMEs will now avail rebates in eCommerce platforms, digital marketing services, and business software solutions via the new resource site.

Besides benefiting from the knowledge of MasterCard’s solutions, the SMEs will also access cybersecurity tools and insights to help them reduce their exposure to cyber fraud and risks. Most importantly the benefits offered through the one-stop center will accelerate the business digitization of SMEs. As a result, they will cut costs, enhance cash flow management, and boost efficiency.

Most importantly, the company is doing everything to help SMEs globally that have suffered the brunt of the COVID-19 induced financial uncertainties. It is important to note that the pandemic accelerated the shift to digital payments from physical modes. This is a trend likely to continue beyond the pandemic and MasterCard has already made several investments in launching cost-effective solutions that will assist SMEs quickly adopt digital payments.

MasterCard helping SMEs

For instance, Mastercard partnered with website builder Wix and cloud solutions provider Zoho to boost SMEs’ resources. Equally the company introduced SME in a Box service in 2020 in Africa and the Middle East, offering a range of diverse services in a single app. The latest introduction of the Digital Acceleration for Small Businesses center is an indication of MasterCard’s initiatives to help SMEs via “get paid, Get Capital and Get Digital.”

During the pandemic, most of the SMEs that used to depend on traditional payment channels such as banks quickly shifted to digital payment methods. The Asia Pacific has not been an exception to the trend and with SMEs going digital that could add around $2.6 to $3.1 trillion to the region’s GDP by 2024.