• News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
MSME Africa
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
  • News
  • Business
  • Opportunities
  • Articles & Resources
  • Spotlight
  • Views
    • Interviews
    • Opinions
  • MSME Jobs
  • More
    • Africa
    • World
  • webmail
  • Terms of Use
No Result
View All Result
MSME Africa
No Result
View All Result

Innovectives Partners Mastercard on SME-in-a-Box Cashless Solution

MSME Africa by MSME Africa
November 30, 2020
in Business, News, Tech
0
Innovectives Partners Mastercard on SME-in-a-Box Cashless Solution
Share

Innovectives Limited, Nigeria’s fintech firm has said it is excited to work with the amazing team at Mastercard and partner fintechs to unlock rapid growth through digitization for small businesses in emerging markets with SME-in-a-Box cashless solution.

Mastercard has launched a new low-cost payments solution that enables small business owners to move their businesses online and accept a range of digital payments from their customers.

The “SME-in-a-Box” solution is powered by Mastercard’s payment technologies and that of its StartPath fintech partners, including onboarding technology provider Signzy and Mastercard’s network of Tap on Phone partners. It is also powered in Nigeria by leading fintech, Innovectives.

The solution will aid small and micro merchants across the country in expanding their customer base via digital platforms and enable sustainable revenue growth.

The unique offering enables business owners to access a wide range of financial services quickly and easily through a single intuitive app compatible with all Android mobile devices.

The app’s functionality supports contactless payments, Quick Response (QR) code payments, and can generate e-payment links for remote payments.

The platform can be leveraged by partners including banks, Payment Service Providers and Mobile Network Operators through application programming interfaces (APIs) or a white label app to rapidly take the solution to market

Olubusola Osilaja, group executive director, Platforms and Partnership – Innovectives said, “Merchants across emerging markets are the backbone of these economies and are eager to do more. However, many of them are limited in accessing supportive financing and business support. In combination with the impact created due to the pandemic, the need to support SMEs is more stringent than ever before.

“We are leveraging our strength in banking, payment and lending technologies, along with a deep understanding of retail merchant networks to deliver SME-in-Box. We are excited to work with the amazing team at Mastercard and partner fintechs to unlock rapid growth through digitization for small businesses in emerging markets,” Osilaja said.

Mastercard has made a global commitment to bring 1 billion people into the digital economy by 2025. This includes 50 million small businesses and 25 million women entrepreneurs.

As part of its response to the COVID-19 pandemic, Mastercard has pledged $250 million in financial, technology, product, and insights support over the next five years to small businesses across the globe, supporting the financial security and vitality of businesses and their workers.

SME-in-a-Box offers a low-cost acceptance service that can run on smart phones and is powered by Mastercard Payment Gateway Services. It also delivers speed and simplicity with remote digital onboarding services from Mastercard’s StartPath partners.

In addition, through its Simplify Commerce offering, Mastercard will enable SMEs with a plug-&-play e-commerce store builder with an instant online checkout. SMEs can access a virtual card and get access to business tools through Mastercard’s partner ZOHO as well as get access to educational tools. These capabilities have been packaged as a bundled solution combined with special incentives to drive adoption and support business owners to tackle challenges during COVID-19.

Gaurang Shah, senior vice president, Product Management, Digital Payments & Labs, Middle East and Africa – Mastercard, commented: “The SME market represents 90 per cent of businesses in Nigeria, and has been deeply impacted by the pandemic.

“We recognize 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. 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.”

 

Post Views: 1
Share

Related Posts:

  • MSME Africa Unveils Top 50 Remarkable MSME Founders 2023, Awards them $25,000 in Media Credits
    MSME Africa Unveils Top 50 Remarkable MSME Founders…
  • Best Cities to live as an Entrepreneur in Nigeria
    Ultimate 2024 Guide to the Top Business Enabling…
  • Mastercard launches Strive: a global small business initiative to accelerate economic recovery
    Mastercard introduces low-cost payment solutions for…
  • Africa must prepare for the inevitability of a global food crisis - Akinwumi Adesina
    Overcoming Binding Constraints to Competitive…
  • Trends shaping global payment processing in 2023
    Trends shaping global payment processing in 2023
  • Mastercard launches Strive: a global small business initiative to accelerate economic recovery
    1.4 million Nigerian MSMEs embrace digital payment…
Tags: Innovectives LimitedMastercardMSME AfricaOlubusola Osilaja
Previous Post

Paga Partners Whitefield Foundation to Support MSMEs

Next Post

Firstbank Launches Next-Generation ATM, Spearheads Innovation in Electronic Banking

Next Post
Firstbank Unveils SME Specific Accounts, Restates Commitment to Growth Of SMEs

Firstbank Launches Next-Generation ATM, Spearheads Innovation in Electronic Banking

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
Join MSME on Whatsapp
Subscribe To Our Newsletter
Enter your email to receive a weekly round-up of our best posts. Learn more!
icon
By subscribing, you agree with our privacy policy and our terms of service.

Recent Posts

  • Call for Applications: The Green School Activation Programme (For Secondary School Teachers in Abuja, Lagos and Oyo State)
  • Call for Applications: Digital Skills for Entrepreneurs ( Abuja, Kano, Lagos and Rivers)
  • Call For Applications: Llama Impact Accelerator Program 2025 for African startups (Equity-free funding of $25,000)
  • Call for Applications : 2025 She Works Here Hybrid Accelerator Program
  • Call For Applications: Lagos Business School Young Talents Programme 2025 for Young Nigerians

Recent Comments

  • 10 Reasons Why SMEs Should Invest in Video Marketing - MSME Africa on How to Create Viral Videos for Social Media in 2024
  • link alay4d on 5 Nigerian-based Companies Providing Accelerator Programs for Startups in 2024
  • Damilare Oladeji on Nigerian Government Agencies that Support Entrepreneurship in 2024
  • situs alay4d on 50 Best Tools to Boost Your Productivity as an Entrepreneur in 2025
  • Otabor Osayomore Blessing on Ultimate 2025 Guide to the Top Business Enabling Cities for Startup Founders and Entrepreneurs in Nigeria
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.

No Result
View All Result
  • About us
  • Advertise with Us
  • Contact Us
  • Home
  • News
  • Newsletter
  • Submit News
  • Terms of Use

© 2023 MSME Africa - All rights reserved.