Mastercard has launched a new initiative, Mastercard Strive Malaysia, as part of its mission to support the growth and digitalisation of Malaysia. This initiative, introduced in partnership with The Asia Foundation, is the second of its kind in Southeast Asia and aims to digitalise 100,000 micro and small enterprises (MSEs), with a particular emphasis on women-owned and women-led businesses. Mastercard Strive Malaysia is designed to provide these businesses with critical tools, networks, and resources that will enable them to thrive in the ever-evolving digital landscape.
Mastercard Strive Malaysia is one of several philanthropic programmes designed to help small businesses worldwide adapt and succeed in the digital economy. Similar programmes have been launched in the United States, the United Kingdom, Mexico, Czechia, and Indonesia. Collectively, they aim to assist over 10 million small businesses.
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The Malaysian MSE sector, which constitutes 97.2% of the country’s businesses and employs more than seven million people, contributes to over half of the national GDP. However, despite the growth of small enterprises in recent years, many continue to struggle with digitalisation. A World Bank report reveals that only 54% of Malaysian MSEs use digital solutions and only 58% have digitised payment systems. This issue is particularly prominent amongst women-led businesses which face additional barriers, including access to technology and financing.
Mastercard Strive Malaysia aims to address these issues by understanding the challenges women entrepreneurs face on their digitalisation journeys and providing tailored solutions. The initiative will focus on providing access to the right tools, networks, and resources to help them grow their businesses online.
In the music industry, Mastercard recently introduced the Mastercard Music Pass NFT, which offers access to a Web3 training programme for emerging artists and unlocks exclusive content from the Mastercard Artist Accelerator.
News based on Marketing Interactive.
