Mastercard: In Colombia, Building Businesses by Bridging the Digital Divide
Rhea-AI Summary
Mastercard has launched Strive Colombia, an initiative aimed at digitally transforming small businesses in Colombia. The program, launched by the Mastercard Center for Inclusive Growth, targets micro and small businesses which comprise over 99% of Colombia's businesses and generate nearly 80% of jobs. Through partnerships with organizations like Fundación Capital and NYU's Financial Access Initiative, Strive Colombia aims to support more than 80,000 micro and small businesses, helping them access new markets, develop sales channels, and implement digital strategies. This initiative contributes to Mastercard's recently achieved goal of bringing 50 million small businesses into the digital economy.
Positive
- Successfully met goal of bringing 50 million small businesses into digital economy
- Program targets 80,000 micro and small businesses in Colombia
- Strategic expansion into Colombian market where MSMEs generate 80% of jobs
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, MA gained 1.33%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
"In 10 years, I see myself with a bigger company that can help more people. I want to have more employees, more people who become part of my family."
NORTHAMPTON, MA / ACCESSWIRE / November 8, 2024 / Rosa Rodrigues is the owner of Renacer, a stamping and branding firm in Bogota, Colombia, one of the millions of micro, small and medium-size businesses that power the country's economy. While these enterprises comprise more than
To help entrepreneurs like Rodrigues make their mark, the Mastercard Center for Inclusive Growth last month launched Mastercard Strive Colombia, part of its global initiative to help digitally transform small businesses. Programs like Strive played a critical role in helping Mastercard fulfill its commitment to bring 50 million small businesses into the digital economy through card acceptance by 2025, a goal it recently met.
Through partnerships with Fundación Capital, Common Cents Lab, the Center for Economic Studies-ANIF and the Financial Access Initiative of New York University, the program seeks to support more than 80,000 micro and small businesses in Colombia, helping them access new markets, develop sales channels, expand their businesses and implement digital marketing strategies. Tailored solutions will help them improve their liquidity management and the high volatility their businesses face.
To learn more about Mastercard Strive, watch the video above.
About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
Originally published by Mastercard
View additional multimedia and more ESG storytelling from Mastercard on 3blmedia.com.
Contact Info:
Spokesperson: Mastercard
Website: https://www.3blmedia.com/profiles/mastercard
Email: info@3blmedia.com
SOURCE: Mastercard
View the original press release on accesswire.com
FAQ
What is Mastercard Strive Colombia and when was it launched?
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