Mastercard launches new set of solutions dedicated to female entrepreneurs in Latin America and the Caribbean

Small and medium-sized enterprises are the backbone of the world economy. In Latin America, 99% 1 of the companies correspond to the MSME sector (Micro, Small and Medium Enterprises), 50% 2 of these are managed by a woman and 87% 3 of them use a personal means of payment to manage their businesses. A Mastercard survey conducted with Kantar in five markets – Mexico, Ecuador, Colombia, the Dominican Republic and Brazil – took a closer look at the key needs and tools desired by female entrepreneurs in Latin America. Faced with this scenario, Mastercard relied on its insights to develop a set of solutions that not only benefit women entrepreneurs, but also improve the responsiveness of card-issuing banks.

Although all female entrepreneurs share common demands, such as access to credit and simplification of day-to-day operational management, according to the study, female entrepreneurs value concrete solutions for specific areas, such as health benefits for themselves and their families, education programs continuation and mentoring. Among other services, this new Mastercard benefit package gives access to training programs that Mastercard, together with several partners, has designed to improve its business vision: the INCAE Virtual Accelerator, the Odyssey platform for Mastercard businesswomen , “ Todos Conectadas ” , where they can hone their digital skills, e-commerce toolkitsStrive and the MicroMentor platform , where female entrepreneurs can connect with mentors to grow their businesses.

“With the launch of these solutions, female entrepreneurs in the Latin America and Caribbean region now have access to services and benefits tailored specifically to meet their needs. With these resources, Mastercard hopes to help female entrepreneurs overcome the barriers that still block the professional development, such as limited access to finance, lack of support networks and the gender gap in business. We are also reinforcing our commitment to supporting small business growth and strengthening economies, which starts by providing businesses of all sizes with tools that they need to thrive,” says Maria Barreiros, Vice President of Products for Small and Medium Businesses at Mastercard Latin America and the Caribbean.

Key benefits of empowering female entrepreneurs

According to Kantar research, 88% 4 of women entrepreneurs value a solution tailored to their needs. Mastercard’s package of solutions and benefits offers businesswomen the possibility of accessing financing through corporate credit cards, in addition to specific benefits for companies through the Easy Savings program, which provides reimbursement for travel and operating expenses through more than 50,000 merchants around the world, or discounts on digital services provided to businesses.

This is the first time that entrepreneurs will have access to tailor-made solutions in Latin America. The package also has legal advice, in addition to a health program that provides psychological, nutritional and medical assistance. Finally, as another highly valued benefit is security, in which businesswomen and their employees will be insured against cell phone theft and accidents, as well as access to the Mastercard Trust Center, which has educational content and free tools to help small and medium-sized businesses to improve their cyber security.