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Mastercard Business Cards Gain Added Value with Business Subscription Management Tool Powered by Nuclei
Companies using Mastercard Business cards in the Eastern Europe, Middle East and Africa (EEMEA) region are set to benefit from a new value-added service – a business subscription management tool powered by technology partner Nuclei. The innovative feature will help small businesses streamline processes and reduce costs.
In the first wave, Mastercard and Nuclei are planning to launch the user- and budget-friendly platform in the GCC region, followed by the rest of EEMEA.
SMEs often have to simultaneously juggle business subscriptions for several corporate services, with different renewal dates. An increasing number of subscriptions often makes it challenging to manage them effectively, with companies sometimes incurring unnecessary expenses due to the failure to cancel a subscription that is no longer needed. The new proposition provides a convenient solution to keep track of multiple subscriptions with minimal effort.
The tool offers a distinct advantage to subscription providers by motivating companies to make subscription payments by card instead of the slower and less efficient account-to-account (A2A) transfers.
“The subscription business model has seen a huge shift in its core proposition over the past few years, with all kinds of products and services that are used on a regular basis being turned into a subscription. This trend is driving the demand for services that support the massive growth of the subscription industry. Catering to the needs of the rising number of companies relying on business subscriptions, our pioneering platform helps tackle inefficiencies in the system and empowers users to maximize the value they get from their subscriptions,” said Ankur Joshi, Founder and CEO, Nuclei.
“Small businesses are key to inclusive and sustainable economic growth. However, many are struggling to adapt to rapid digital transformation. At Mastercard, we work to equip them with the tools to succeed in a digital future as part of our pledge to connect 50 million micro, small and medium enterprises (MSMEs) to the digital economy. Our partnership with Nuclei enables us to address several pain points MSMEs commonly associate with business subscriptions, such as cost as well as time and effort spent on their management,” said Thomas Kuncheria, Senior Vice President, Small and Medium Enterprises, EEMEA, Mastercard.
Nuclei is a global business-to-business (B2B) fintech firm that is on a mission to inject consumer tech DNA into banks and telecom companies, enabling them to deliver innovative products to their customers. The company is among the Mastercard Start Path alumni, an award-winning fintech startup engagement program.
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