Mastercard has announced it is expanding its partnership with Zoho to bring small business owners around the world a comprehensive array of products and services to make running their enterprise easier, more efficient and more profitable.
Every business is on a quest to increase efficiency and productivity; for small business owners, it can be a matter of survival. With Zoho’s platform, Mastercard is able to offer its small business customers access to a suite of marketing, accounting and CRM tools to automate and digitize time-intensive, paper-based processes. Scaling its existing partnership from India to the rest of the world, Mastercard and Zoho are enabling simpler business operations for SMBs globally.
“When Mastercard and Zoho come together, we’re able to pair our smart solutions and scale to fundamentally address some of the challenges small businesses owners face every day,” said Zahir Khoja, executive vice president, Global Acceptance at Mastercard. “These entrepreneurs drive job creation, productivity and growth globally; it’s critical that we find partners and develop solutions that allow us to help them succeed.”
In fact, small businesses account for nearly 50 per cent of the world’s GDP and employ almost two-thirds of the global workforce. Through Mastercard’s financial institution and acquiring partners, small businesses will now have access to various solutions such as enterprise resource planning and finance software, customer relationship management, and marketing solutions, amongst others.
“We are excited to partner with Mastercard, a company committed to empowering small business owners across the globe. This partnership connects small businesses to the innovative applications that enable them to access, manage and analyze real-time information that is critical to their success,” said Sridhar Vembu, CEO of Zoho Corporation. “Together, Zoho and Mastercard simplify the daily responsibilities of these entrepreneurs and help their businesses grow and thrive. As partners, we embark on our joint mission to fuel the global small business economy.”
Zoho is a cloud-based platform accessible via website and app and can be delivered via API. Zoho’s technology stack is flexible, taking the heavy-lift off the integration process and making bringing solutions to market faster. Mastercard and Zoho shared solutions will be available later this year.
 “The Future of FinTech: A Paradigm Shift in Small Business Finance,” World Economic Forum, 2015