Powering Growth for MSMEs: Mastercard and Boost Join Forces
Mastercard and Boost, a leading B2B commerce platform, have announced a strategic partnership, The team up aims at empowering small and medium-sized enterprises (SMEs). Specially, those operating in last-mile fast-moving consumer goods (FMCG) distribution networks.
Unlocking Growth for MSMEs
This collaboration will provide crucial support to MSMEs by offering a suite of innovative solutions, including:
- Seamless Digital Payments: Enabling easy and secure digital transactions for both businesses and consumers.
- Embedded Credit Solutions: Providing access to flexible and affordable financing options to help MSMEs grow their businesses.
- Integrated Supply Chain Finance: Streamlining financial flows within the supply chain, improving efficiency and reducing costs.
Focus on High-Growth Markets
The partnership will initially focus on key emerging markets, including Egypt, Kenya, Nigeria, Ghana, and South Africa. This targeted approach will enable Mastercard and Boost to maximize their impact. Not just that, it will also accelerate the growth of MSMEs in these dynamic economies.
A Win-Win for Businesses using Mastercard & Boost
“Small businesses are the backbone of our economies,” says Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard. “This partnership with Boost will provide them with the essential digital tools and financing solutions they need to thrive in today’s rapidly evolving digital economy.”
Boosting Growth and Efficiency
Boost’s innovative platform empowers manufacturers and their distribution networks with the tools they need to succeed. The fintech company is trying to digitize end-to-end distribution processes. Additionally, it aims to provide access to direct-to-retailer digital engagement and embedded financing, Boost is helping businesses increase efficiency, expand their reach, and unlock new growth opportunities.
A Shared Vision for the Future
“We are thrilled to partner with Mastercard,” says Mike Quinn, co-founder and CEO, Boost. “This collaboration will allow us to leverage Mastercard’s global reach and expertise to further enhance our platform and deliver even greater value to our customers. Together, we will empower MSMEs to thrive in the digital age.”
This strategic partnership between Mastercard and Boost represents a significant step forward in supporting the growth of MSMEs in emerging markets. By providing access to innovative financial solutions and empowering businesses with the tools they need to succeed, this collaboration will contribute to a more inclusive and prosperous future for all.
