Mastercard & Bizom to provide supply chain financing solution to micro retailers
By Gloria Mathias
Mastercard and Bizom have announced a collaboration to extend a holistic digital supply chain financing solution to over 75 lakh micro retailers and 2 lakh distributors of Consumer-Packaged Goods (CPG) Small retailers.
The distributors in India face several challenges including supply chain disruptions, inventory management, payment issues, limited technical skills and lack of access to capital, that impacts their business operations and growth prospects.
Bizom will work with its vast network of over 75 lakh retailers and 2 lakh distributors operating in the CPG industry to automate route-to-market operations, with its best-in-class SaaS offerings.
Mastercard will enable the adoption of digital payments for micro retailers and connect them to lending partners for easy access to credit. It will also bring its expertise in payments and provide retailers on the Bizom network with a virtual card application that will facilitate frictionless payments and easy reconciliation.
Vikas Varma, Chief Operating Officer, South Asia, Mastercard, said, “Rapid evolution of the retail sector has necessitated digital adoption by small businesses to derive benefits like operational efficiency and business growth. With this collaboration between Mastercard and Bizom, micro retailers and distributors will embark on a journey of digitization that helps them get online, get paid and get access to capital.”
Lalit Bhise, CEO of Bizom, said, “We are excited to pave the way for the millions of MSME businesses like retailers, distributors, wholesalers, and small manufacturers in Bizom’s network to gain access to formal digital financial products. Through this partnership with Mastercard, Bizom’s digital trade credit service will extend instant financial support to these small entrepreneurs, helping them grow faster.”
Bizom is the Retail Intelligence Platform that digitizes global distribution engines, with AI-based, outcome-driven sales automation tools like Bizom SFA, Bizom DMS and Bizom Retailer App. With a keen focus on revolutionizing the distribution landscape in emerging markets, Bizom’s advanced solutions aim to empower retail businesses to optimize their distribution networks, enhance supply chain efficiency, optimize inventory management, and enhance overall sales and operational performance.
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December 08, 2023
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December 08, 2023