Small Business Advice

Mastercard Assists Small Businesses in Digitally Enhancing their Activities with New Microsoft, QuickBooks, and Zoho Benefits

Mastercard | April 05, 2021

In reaction to the pandemic, small businesses are starting to transfer their activities online and finding access to digital tools. According to a Mastercard survey, 76% of small businesses in North America say the pandemic encouraged them to become more digital, but 64 percent say they are challenged to do so. Mastercard has announced the launch of additional services with Microsoft, QuickBooks, and Zoho to its suite of U.S. small business benefits to help small businesses enhance their digital presence. Small businesses in the United States can now drive awareness about their business online through Microsoft Advertising, digitally handle payroll and receive HR assistance with QuickBooks Online Payroll, and connect with their customers through Zoho's marketing capabilities, which are now available through Mastercard BusinessCard® and World Elite Mastercard for Business®.

“Having a digitally-led method is more important than ever for small business owners today. “Mastercard remains dedicated to assisting small businesses in addressing the demands of the evolving consumer and functioning in our digital world,” said Chiro Aikat, Mastercard's EVP of Products & Innovation in North America. “With our partners, we are creating a strong base of digital offerings and tools for our small business cardholders that will help them support their businesses today and boost their success tomorrow.”

Beginning April 1st, Mastercard small business cardholders can instantly receive new rewards and access to tools and solutions to help them expand their businesses and transform digitally. This includes the following:

• Microsoft Advertising: Using paid search to find customers interested in your business and generate more leads, phone calls, appointments, visits, or purchases. After spending just $10 on Microsoft Ads, you'll get $125 in advertising credit.

• Intuit QuickBooks® Online Payroll allows you to manage payroll as well as provide health benefits and HR assistance to your customers. For the next six months, cardholders will get a 40% discount on QuickBooks Online Payroll.

• Discounts on Zoho Social and Marketing Plus: Mastercard BusinessCard cardholders get a 50% discount on one year of Zoho Social, a social media management platform that lets small businesses expand their social media footprint. Cardholders of the World Elite Mastercard for Enterprise enjoy a 50% discount on one year of Zoho Marketing Plus, Zoho's latest bundle that provides small business owners with a single marketing platform to help them handle their social media, execute email promotions, survey their clients, and more.

"Most businesses have undergone an accelerated digital transformation over the last year, and they are now open to a variety of tools that can help them grow and promote their businesses through digital marketing channels—web, social, email, events, and more," said Raju Vegesna, Chief Evangelist at Zoho. "We are excited to work with Mastercard to deliver our social media management tool and end-to-end digital marketing platform—Zoho Social and Zoho Marketing Plus—to help small businesses expand faster."

In addition to these new offerings, Mastercard's small business value proposition continues to include seamless digital resources and partner discounts, such as Salesforce's customer relationship management solution Salesforce Essentials, an all-in-one app that includes sales and customer support tools built specifically for businesses of their size, as well as Intuit's QuickBooks® and TurboTax® discounts, access to a 24/7 Business Assistant, Mastercard ID Theft Protection, Mastercard Easy Savings®, and Mastercard Receipt Management supported by Itemize, which is officially available to download and enable for free in the Apple and Android app store using a legitimate Mastercard Small Business card.

If small businesses ramp up their digital transformation activities in response to the pandemic, Mastercard's Digital Diagnostic will assist them in assessing their digital presence and identifying efficiencies. Small business owners have access to an always-on resource through the Mastercard Digital Doors program, which offers insights, tools, solutions, and guidance to help small businesses set up shop online, expand and maintain their business, receive payments, and keep their business secure.

About Mastercard

Mastercard is a payments processing organization with a worldwide presence. Their mission is to connect and power a digital economy that benefits everybody, everywhere by making transactions secure, easy, smart, and accessible. Its innovations and solutions help individuals, financial institutions, governments, and enterprises achieve their full potential by utilizing stable data and networks, partnerships, and passion. Their decency quotient, or DQ, is what determines their culture and everything they do both inside and outside of the company. Mastercard is creating a thriving future with connections in over 210 countries and territories, unlocking priceless opportunities for everyone.

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FINANCE

Nav Revolutionizes SMB Finance with Innovative Platform and Card

Nav Technologies, Inc. | September 13, 2023

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MANAGEMENT

DigitalOcean Launches Managed Kafka Offering

Business Wire | September 27, 2023

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IDEAS

Carver's Microloan Program Paves the Path for NYC's Small Businesses

Carver Federal Savings Bank | September 25, 2023

Carver Federal Savings Bank, a certified Minority Depository Institution (MDI) and a Community Development Financial Institution (CDFI) is driving economic empowerment for small businesses in New York City through its innovative microloan program. This program plays a crucial role in facilitating entrepreneurs' access to capital for business expansion in the post-pandemic era. Carver employs algorithm-based software, transcending the limitations historically imposed by traditional credit scores, which have hindered the borrowing eligibility and capacity of black and brown entrepreneurs. The ongoing challenges small businesses face in Carver's community persistently weigh them down amidst economic headwinds. Notably, 41% of small businesses owned by black and brown entrepreneurs have either shuttered or are on the brink of closure due to the financial hardships stemming from the pandemic. Furthermore, it is worth highlighting that approximately 45 million adults in the United States lack traditional credit scores. Carver's microloan program fills a crucial void by providing essential capital ranging from $5,000 to $50,000 to small business entrepreneurs. This initiative addresses the longstanding challenges associated with securing small-dollar loans and capital in Carver's communities. The bank's dedicated efforts are yielding tangible results, invigorating local economic activity. Michael T. Pugh, President and Chief Executive Officer of Carver Federal Savings Bank, said: "Carver's mission is to provide access to capital and to be champions for the underserved community in New York City." [Source – Cision PR Newswire] He mentioned that their microloan program represented an opportunity for them to assist small businesses in recovering from the pandemic and economic downturns while working towards a prosperous future. Pugh further expressed gratitude to Charter Communications, Webster Bank, UBS, M&T Bank, and all their partners who had played a crucial role in the successful launch of their new microloan program. About Carver Bancorp, Inc. Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a renowned federally chartered stock savings bank. Headquartered in Harlem, New York, the company was established in 1948 with the mission to serve African-American communities where businesses, residents, and institutions had limited access to mainstream financial services. Recognized by the U.S. Treasury Department as a Community Development Financial Institution (CDFI), Carver stands out for its community-centric banking services and unwavering commitment to enhancing the economic vitality and revitalization of its local community. The company holds the distinction of being one of the largest African- and Caribbean-American-managed banks in the United States.

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Technology

Thryv's Sweeps Industry Awards Dominating the SMB Software Landscape

Thryv | September 07, 2023

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