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Mastercard has introduced new tools to assist small businesses with payment processing, financing, and cybersecurity.
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Small businesses are adapting to an increasingly digital business environment, even amid labor shortages, to meet customer expectations.
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Mastercard's Digital Doors program offers resources, including a Marketing Hub and cybersecurity toolkit, to help small businesses.
Mastercard has expanded its suite of services catering to small businesses, introducing an array of new tools to assist companies in areas such as payment processing, securing financing, defending against cyber threats, and more.
Ginger Siegel, the North America Small Business Lead at Mastercard International, highlights that this expansion aligns with the efforts of small businesses to adapt to an increasingly digital business landscape.
The ongoing labor shortage has presented challenges for many small enterprises in recruiting essential staff. However, despite these hurdles, companies must continue evolving to meet customer expectations, particularly in terms of digital interaction and seamless payment processing.
A recent survey by PwC Global reveals that 89% of financial technology, banking, and payment businesses polled believe that the continued growth of e-commerce necessitates significant investments in online payment solutions.
In response to these challenges, Mastercard is proactively addressing the needs of small businesses through various services, many of which are integrated into its Mastercard Digital Doors program. This initiative initially emerged as an online resource center during the pandemic, offering an array of tools to assist small businesses in establishing an online presence, facilitating digital payments, enhancing cybersecurity, and streamlining various other digital operations.
One notable addition to the Digital Doors program is the Marketing Hub platform, designed to connect small businesses with select service providers capable of meeting their specific needs. Furthermore, Digital Doors now provides additional resources to aid small business owners in promoting their operations effectively.
According to a Mastercard study, the second most significant challenge for small and medium-sized businesses is acquiring new customers, even though 47% of companies report being in a "growth mode."
The Digital Door Marketing Hub extends valuable savings on supplementary services to support businesses in their marketing and advertising endeavors. This includes discounts of 20% on specific Hootsuite services geared toward enhancing social media marketing, as well as discounts of 40% on selected FedEx Express shipping services and 20% on selected FedEx Ground shipping services.
Another crucial service Mastercard Digital Doors offers is its collaboration with the Global Cyber Alliance. This partnership delivers a Cybersecurity Toolkit for Small Businesses, equipped with scanning tools that identify and assess vulnerabilities in data encryption and website security. This toolkit empowers small businesses to fortify their defenses against online fraud and malicious internet traffic.
Mastercard goes a step further by providing education and coaching initiatives tailored for small firms, including a partnership with Hello Alice, a platform that assists entrepreneurs in navigating financial and operational challenges, further demonstrating Mastercard's commitment to empowering and supporting small businesses in their journey towards growth and success.