PURCHASE, N.Y.--()--Mastercard today announces Biz360, a comprehensive digital solution designed for providers to equip their small business customers with a simplified way to manage the most critical aspects of running and growing a business. With Mastercard Biz360™, business owners can access new features built to streamline their daily operations while also integrating their existing digital tools into this easy-to-use platform.

Digitization is non-negotiable for small businesses. A Mastercard study revealed 75% of small businesses leverage digital tools in their daily operations, and two-thirds listed a seamless, digital experience as critical to their business.1 But the experience is far from frictionless with 25% of small business owners burdened by using more than six different platforms daily, draining two of their most valuable resources – time and money.2

“Mastercard believes that the stronger the small business, the stronger the community. That’s why we’re committed to empowering small businesses for the digital future by providing the innovative technologies they need to succeed,” said Jane Prokop, executive vice president and global head of small and medium enterprises at Mastercard, “Mastercard Biz360 is the time-saving solution that small businesses need to focus on what matters most – running their business and serving their communities.”

Financial and service providers can offer their small business customers several initial benefits and capabilities through Biz360, including:

  • A streamlined digital experience: Instead of relying on siloed technologies, small businesses can consolidate their existing operational tools, subscriptions, and payment gateways into a single destination, in addition to accessing value-added services that optimize productivity.
  • Increased efficiency: By automating administrative tasks and integrating business management tools into one platform, entrepreneurs can focus on strategic, revenue-generating activities that drive growth.
  • Enhanced customer engagement: This solution offers a client portal where small business owners can manage and cultivate customer relationships, boost loyalty through personalized email and marketing campaigns, and enhance their digital presence with website creation capabilities.
  • Data-driven insights: Biz360 provides personalized business performance reports, allowing business owners to unlock valuable insights that help guide more informed decision-making.
  • Light-lift implementation: The integration requires minimal effort from both providers and their small business customers, enabling providers to go-to-market quickly with a platform that seamlessly integrates existing tools based on the business owner’s preference, and meets the expectations of modern businesses.

Bringing digital solutions to small businesses through the power of partnership

Small business fintech platform Hello Alice will collaborate with Mastercard on the initial roll out of Mastercard Biz360 to select small businesses across their U.S. network.

“We’re committed to empowering Main Street by equipping American small business owners with the tools they need to succeed in today’s fast-paced, digitally-driven economy,” said Elizabeth Gore, co-founder and president at Hello Alice. “As an extension of our longstanding collaboration with Mastercard, we are proud to be among the first to bring Mastercard Biz360 to select small businesses across our community in the U.S. and play our part in helping these entrepreneurs succeed.”

Mastercard is collaborating with vcita, a leading technology platform designed for organizations that serve the small business market. This differentiated solution for small business owners improves customer engagement, payment collection, and time management.

“We are honored to work with Mastercard who is as dedicated to the success of small businesses as we are,” said Itzik Levy, CEO and founder of vcita. “Our collaboration with Mastercard facilitates the digitization of operations, helping small businesses maximize growth and customer satisfaction.”

Mastercard aims to broaden Biz360’s reach across additional markets in 2025 and expand the platform’s capabilities to address the evolving needs of small business owners. For providers interested in becoming an early adopter of Mastercard Biz360, learn more here.

A track-record for bringing small businesses into the digital economy

Biz360 is the latest addition to Mastercard’s expanding suite of product innovations that go beyond banking, designed to support businesses at every stage of their growth. The digital solution is launching on the heels of Mastercard’s achievement of bringing more than 50 million micro, small, and medium enterprises into the digital economy – a commitment that the company made in 2020 to drive a more inclusive world where every business prospers. Through innovative technology, partnership, and philanthropic pursuits, Mastercard will continue to digitally enable businesses everywhere as part of its ongoing mission to power economies and empower people.

About Mastercard

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. www.mastercard.com

Sources

1 Mastercard, “Small and medium enterprises are big business report”, May 2023.

2 US Chamber of Commerce, The Impact of Technology on U.S. Small Business Report, March 2023.