In the wake of COVID-19 and lockdown, it has become increasingly important for small businesses to have a digital presence, and in particular, be accessible online to potential customers. With that in mind, Mastercard recently announced a new “SME-in-a-box” solution designed for helping small businesses get online, as well as facilitate digital payments when needed.
“The ‘SME-in-a-Box’ solution is powered by Mastercard’s payment technology and that of its fintech partners, including payments and agency banking solutions company SmartPesa, a Mastercard StartPath partner. The solution will aid small and micro merchants across the region in expanding their customer base via digital platforms and enable sustainable revenue growth,” explains the payments specialist in a press release sent to Hypertext.
The solution is compatible with all Android mobile devices via a single app, according to Mastercard, with it offering access to a wide range of financial services.
The app’s functionality will support contactless payments, QR code payments, and has the ability to generate e-payment links for remote payments. Added to this, Mastercard is also making it available for businesses to access a white label app to take their solution to market.
For local SMEs struggling to sort our their digital services, and payments specifically, it looks like this solution should prove helpful.
“The SME market represents 98% of businesses in South Africa, and has been deeply impacted by the pandemic. We recognise the overwhelming pressure that small business owners are currently facing and are committed to supporting them through COVID-19 and beyond by bringing our tools at a low cost and rapid time to market,” explains Gaurang Shah, SVP of product management, digital payments & labs for MEA at Mastercard.
“The SME in a Box offering provides SME owners with a quick and simple way to digitize their business and build a platform for sustained future growth,” he concludes.
To find out more about Mastercard’s business-focused solutions, head here.