Visa’s initiative to transform SMBs across Europe digitally gains momentum

By Pavithra R

Visa has announced the joining of more than 100 partners across Europe in its “Where You Shop Matters” initiative to help small business owners build digital skills so that they can continue to serve their communities.

Since the program’s launch in summer 2020, more than 2 mn SMBs across Europe have received support. The new announcement marks a significant milestone in Visa’s commitment to helping 8mn SMBs in Europe and 50 mn worldwide go online, adapt and future-proof their businesses.

“Small businesses play a very important role in our communities, and many continue to work in the difficult conditions caused by Covid-19. We applaud the inspiring innovation and entrepreneurship that many small businesses display as they adapt their businesses to continue serving their customers. We are proud that more than two million small companies have benefited from our partner initiatives. We remain committed to working with our customers and partners towards economic recovery that keeps small businesses at the heart of our communities,” said Hemlata Narasimhan, SVP, Merchant Sales and Acquiring Europe at Visa.

Since announcing its commitment to help SMBs across Europe transform digitally, Visa has been working with banks, governments, trading platforms, and technology partners to empower small businesses digitally. The highlights include:

• Public-private partnerships: In the Czech Republic, Poland and Slovakia, Visa is working with the government to give SMBs access to terminals and software for contactless operations that are free for the first twelve months.
• New Acceptance Technology: ‘Tap-to-phone’ that turns mobile devices into payment terminals is helping SMBs make digital payments in the Czech Republic, Poland, Romania, Slovakia, Turkey, Italy, Ukraine and in Great Britain to receive.
• New Online Tools: Visa works with online platforms and digital marketplaces so that SMBs can create an online presence with minimal cost and effort. Visa has also expanded its Practical Business Skills platform, a global digital platform where business owners, small and small, can find free information resources.
• New Banking Tools: Working with banks and FinTech companies across Europe, Visa offers more than 30 new business card programs to help SMBs better manage their cash flow and purchases while also providing access to innovative new business banking tools.
• Community Engagement: Visa has expanded it’s Where You Shop Matters campaign to encourage consumers to shop in their local area to help SMBs in their community.

“Fiserv enables payments for millions of businesses in a wide range of sectors in Europe and worldwide. We have seen with our own eyes how the COVID-19 pandemic has forced small businesses to adopt technology that enables them to do business in new and more digital ways. Payments are an integral part of any small business. We pride ourselves on our partnership with companies like VISA, which enables companies to meet customer needs for secure and convenient digital payment methods,” said Nigel Motyer, Senior Vice President of Global Business Solutions at Fiserv in the EMEA region.