back Back

Mastercard launches one-stop resource site for SMEs in Asia Pacific

By Edil Corneille

January 18, 2021

  • America
  • Mastercard
Share

Mastercard, Asia Pacific, digital, transformation, COVID-19Global payments technology company Mastercard has launched the Digital Acceleration for Small Businesses microsite across most of its Asia Pacific websites to help small and medium enterprises (SMEs) recover from the COVID-19 pandemic and prepare for the future. Information and resources are provided on ways to digitalize and run businesses more efficiently.

As COVID-19 drives a rapid and lasting shift to e-commerce and contactless payments, the one-stop center features guides on digital transformation, e-learning courses, information about Mastercard products and services for SMEs, cybersecurity insights and tools to reduce vulnerabilities and access to discounts on business software solutions, e-commerce platforms and digital marketing services.

“SMEs have taken a particularly hard hit from the pandemic, so it’s vital for them to get the knowledge, skills and resources they need to offer an omnichannel shopping and payment experience that drives business and builds customer loyalty in the physical and digital worlds,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard.

“With consumer buying habits and expectations evolving so quickly, this initiative is just one of the ways that Mastercard is fostering financial inclusion and helping small businesses to go digital across their operations to reduce costs, increase efficiency and improve cashflow management – all while staying safe and protected from cyber risks and fraud.”

The Digital Acceleration for Small Businesses center is available across Mastercard’s English-language websites for Singapore, Malaysia, the Philippines, Thailand, Hong Kong, India and Southeast Asia. It will be rolled out selectively on non-English sites in the future.

To enhance the resources for SMEs, Mastercard has joined forces with popular website builder Wix and with Zoho, a cloud solutions provider with more than 60 million users. These partners are sponsoring online guides and articles on various topics – from creating an online store and choosing the right domain name to migrating to an online expense management and accounting platform.

The resources site in APAC is part of Mastercard’s global efforts to help SMEs “Get Paid, Get Capital and Get Digital” through new product development, partnerships and distribution channels. These include initiatives in North America, the Caribbean, Australia and New Zealand.

After reaching its goal to bring 500 million people into the financial system, Mastercard strengthened its commitment to inclusion by pledging to help 1 billion get access to the digital economy by 2025, including 50 million small businesses and 25 million women entrepreneurs.

Reflecting the huge shift to a “digital first” mindset, contactless payments via the Mastercard network were 41% of in-person transactions in the third quarter of 2020 – up from 37% in the second quarter and 30% a year earlier.

With ATM withdrawals at an all-time low, Mastercard research shows more than 70% of consumers globally plan to continue or increase online purchases and that 74% intend to keep using contactless payments after the pandemic subsides. In Asia Pacific, touch-free payments are here to stay, according to 71% of consumers in Australia, 77% in India, 73% in China and 62% in Japan.

Previous Article

January 15, 2021

Top 4 ‘Buy Now Pay Later’ Singaporean FinTechs beating COVID-19 blues

Read More
Next Article

January 18, 2021

Mastercard partners with GM and Goldman Sachs on rewards-based credit cards

Read More

IBSi Prime News

The Weekly Wrap

November 26, 2021

America

The Weekly Wrap: all you need to know by Friday COB | Nov 26th

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 26, 2021

Black Friday 2021: 3 Risks of Buy Now, Pay Later Apps this holiday season

Read More

November 26, 2021

Thunes partners with Ethiopia’s Ethio Telecom to power cross-border transfers

Read More

November 26, 2021

Lifeist Wellness to sell certain intellectual property assets to Spinach Pay

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
US Financial Services Technology Report 2021

£1,500 / year

Know More
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More