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Visa unveils Small Business Hub for SMBs seeking to bounce back

By Pavithra R

June 25, 2020

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Mary Kay Bowman, global head of buyer and seller solutions, Visa

Visa, along with 20 leading small business solution providers, has announced an online resource for small businesses called the Visa Small Business Hub, to help entrepreneurs build stronger customer relationships and expand their businesses.

The new Visa Small Business Hubs are now live in over 20 countries and tailored to each region’s specific SMB needs. Each Small Business Hub delivers a broad range of tools, special partner offers and actionable tips that business owners can implement to improve their businesses.

According to World Bank Small and Medium Enterprises (SMEs) Finance Data, SMBs not only contribute half of all jobs globally, but they are also the heart of local communities. Despite this, business owners often lack access to training, technology and financial tools that enable growth.

“The global economy won’t bounce back until small businesses bounce back. Visa was founded on the idea that safe, fast and reliable digital payments should be available to everyone, everywhere. Today, we are more focused on this than ever, with the added goal of building simple and effective tools that small business owners can use to help make a real difference,” said Mary Kay Bowman, global head of buyer and seller solutions, Visa.

The U.S. Visa Small Business Hub offers centralised access to information and Visa partners that focus on three main stages of the small business lifecycle:

  1. Starting Your Business: It requires figuring out funding, attracting customers, assessing start-up costs,among other steps. The Visa Small Business Hub offers information and tools useful at this stage and help from Visa partners including PayPal, WordPress.com, Tailor Brand, Wix.com, Shift4 Payments, and 3dcart, as well as Visa’s own SMB payments platform Authorize.Net.
  2. Running Your Business: The Hub has tools to help manage finances, start selling online or tips on converting more browsers into buyers. Lendio, Deluxe, FreshBooks, Plastiq, Shopify and Wave provide deals, as well as educational resources, about financing, expenses and more.
  3. Growing Your Business: Visa Small Business Hub helps build lasting customer connections, along with reputation management and marketing. Facebook Blueprint, Trustpilot, Womply, Magnet by Figg, and Yelp can effectively get the word out about SMB businesses.

Recently Visa announced a commitment to digitally enable 50 million SMBs with COVID-19 recovery. The announcement follows Visa’s global commitment to provide $210 mn in COVID-19 relief funding to address the longer term needs of the small and micro business community over the next five years.

“Navigating the waves of recovery brings unique challenges for small business owners. Meeting consumer demands for digital-first experiences can and should be a seamless undertaking, especially when resources can be found in a single place like the Visa Small Business Hub. Authorize.Net’s payment and fraud solutions, expansive partner network and 24/7 customer service, can help businesses fast-track and grow their commerce with no monthly gateway fee for new customers until August 1, 2020,” said Carleigh Jaques, senior vice president and general manager, CyberSource, Visa.

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