Mastercard and Boost team up to offer digital payment solutions to businesses

Global Fintech giant, Mastercard and Boost, a B2B commerce startup, have announced a partnership that would empower African businesses in the Fast-Moving Consumers Goods (FMCG) Sector with digital payment solutions for their customers and financial aid to grow their businesses.

The partnership is geared at providing support to SMEs in the FMCG sector, with access to Boost’s capital funding for businesses and Mastercard’s digital payment solutions. Boost’s CEO and co-founder Mike Quinn, spoke of his confidence in the collaboration in achieving its aim of empowering small businesses.

“We are thrilled to enter into this scaling partnership with Mastercard in pursuit of Boost’s mission to enable small businesses to thrive in the digital economy, to create sustainable jobs and income.”

Adding, “We have already proven that Boost’s model can scale widely across, and deeply within, emerging markets by building strong partnerships to digitize end-to-end supply chains between manufacturers and point-of-sale retailers. Mastercard will help us take our model to the next level to create transformative value for our customers and partners while fueling our global ambitions.”

Mastercard in its path, voiced its commitment in actively seeking to power up small and medium scale enterprises in the digital ecosystem.

“We are excited to embark on this transformative journey with Boost, as we understand the challenges that small businesses face, By digitizing payments and creating a track record for their transactions, we will enable more MSME’s to access credit facilities and scale their businesses Through the delivery of integrated digital payment solutions and supply chain finance, we believe we are empowering MSMEs with essential tools to not only survive, but thrive.” Mastercard stated.

Through the collaboration, Mastercard will enable Boost to offer digital payment and credit options to micro, small and medium enterprises (MSME), that Boost currently works with. It creates a gateway for businesses to offer digital payment solutions, and obtain funding. It would also improve payment options, by making it easier for customers to make digital payments to merchants who make use of Boost.