Mastercard: digital acceleration for SMEs in the US & Canada
As businesses strive to draw customers back in store and online following the impact of COVID-19, Mastercard has recently announced the introduction of its new solution to support small businesses as part of the global initiative ‘Digital Acceleration for Small Business’, which helps to digital advance small businesses and drive ecommerce.
In the announcement, Mastercard detailed its geographical expansion of ShopOpenings.com, a new online search solution which confirms which shops and businesses are open to customers. Mastercard is now providing this capability to the United States and Canada. The company also introduced a global initiative - ‘Digital Acceleration for Small Business - to deliver insights and resources for small business owners looking to expand digitally and develop an online presence. The initiative is set to be rolled out in the United States, Latin America and the Caribbean first.
Welcoming customers back and digital transformation
By leveraging Mastercard insights, ShopOpening.com features built in data analysis via its partnership with Sixth Sense, to provide a continuously updated platform detailing which local shops and businesses are open including those reopening after temporarily closing due to COVID-19.
The unique platform includes all types of retailers including restaurants, pharmacies, dry cleaner and boutiques, and identifies merchants that accept contactless payments In addition the platform is optimised for mobile phones to support consumers that are on the go, and is regularly updated to ensure that it is reliable with the information that it provides.
“Businesses large and small are the engine of growth for economies around the world and right now they need our collective support to navigate these uncharted times,” commented Jess Turner, Executive Vice President Products & Innovation in North America for Mastercard. “The resiliency and drive of small business owners is unprecedented and ensuring they have the tools and resources necessary is the single most important thing we can all do for economic and social vitality.”
With many consumers shifting to digital shopping due to the pandemic to accommodate evolving customer behaviours, small businesses are developing new revenue streams. To help with this online expansion, Mastercard has launched its initiative to provide small businesses with a pathway to expand their online presence, protect their operations and remain successful among the new normal.
The initiative has been customised regionally, delivering localised end-to-end tools launched in the United States, Latin America and Caribbean first. Mastercard has also implemented ‘Digital Doors’ with partners such as BigCommerce, Hello Alice and Shopify as well as harnessing its own cybersecurity solutions; online checkout, ‘Click to Pay’ and customisable digital skills curriculum.
In Latin America and the Caribbean, Mastercard is also partnering with Linio, INCAE, Leafgrow and Sheworks to launch the initiative.
ShopOpenings.com and Digital Acceleration for Small Business are part of Mastercard’s wider Recovery Insights program designed to support businesses and governments across the globe with resources to help better manage the health, safety and economic risks presented by COVID-19.
Mastercard’s recovery insights can be found here.
For more information on business topics in the United States and Canada, please take a look at the latest edition of Business Chief North America.
