Mastercard launches microsite to help small
businesses in Asia Pacific recover from the coronavirus pandemic
and prepare for the future. Nearly 70 per cent of SMEs in Asia
Pacific are accelerating digitisation following Covid-19, study
According to the recent research by International Data
Corporation (IDC), 86 per cent of small businesses also
believe digitisation will help build resilience against future
events.IDC suggests SMEs could add $2.6trillion to $3.1trillion to
Asia Pacificâs GDP by 2024.
Reflecting the huge shift to a âdigital firstâ mindset,
contactless payments via the Mastercard network were 41 per cent of
in-person transactions in the third quarter of 2020 â up from 37
per cent in the second quarter and 30 per cent a year earlier.
With ATM withdrawals at an all-time low, Mastercard research
shows more than 70 per cent of consumers globally plan to continue
or increase online purchases and that 74 per cent intend to keep
using contactless payments after the pandemic dissipates. In Asia
Pacific, touch-free payments look likely to remain, according to 71
per cent of consumers in Australia, 77 per cent in India, 73 per
cent in China and 62 per cent in Japan.
Mastercardâs new Digital Acceleration for Small
Businesses microsite includes resources on how to
digitalise and run businesses more efficiently. Guides include tips
on digital transformation, e-learning courses, information about
the global payment companyâs products and services for SMEs. Plus
cybersecurity insights and tools to reduce vulnerabilities and
access to discounts on business software solutions, e-commerce
platforms and digital marketing services.
Sandeep Malhotra, executive vice president for
products and innovation Asia Pacific, at Mastercard, said: âSMEs
have taken a particularly hard hit from the pandemic, so itâs
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
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 â all while staying
safe and protected from cyber risks and fraud.â
The resource can be found across Mastercardâs English-language
websites for Singapore, Malaysia, the Philippines, Thailand, Hong
Kong, India and Southeast Asia. It will also be rolled out on
selected non-English sites in the future.
Mastercardâs new Digital
Acceleration for Small Businesses microsite
Mastercard has secured support from website builder
Wix and cloud solutions provider
Zoho as sponsors of online guides. Topics include
creating an online store, choosing the right domain name, and
migrating to an online expense management and accounting
The resources site in Asia Pacific is part of Mastercardâs
global campaign to help SMEs âGet Paid, Get Capital and Get
Digitalâ through new product development, partnerships and
distribution channels. Other initiatives are implemented in North
America, the Caribbean, Australia and New Zealand.
Mastercard has pledged to help one billion people get access to
the digital economy by 2025, including 50 million small businesses
and 25 million women entrepreneurs.
Mastercard Supports SMEs in Asia Pacific with Digital
Transformation Microsite appeared first on The Fintech Times.