Mastercard collaborates with BaseKit to increase digital access for small and medium-sized enterprises (MSMEs), promoting financial inclusion globally.
In an exciting development, Agentic and Mastercard have announced a new partnership aimed at democratizing technology for entrepreneurs and Micro, Small, and Medium Enterprises (MSMEs) worldwide.
Through this partnership, Agentic's digital tools for entrepreneurs and small businesses will be integrated with secure Mastercard payments, making them available across multiple markets. This collaboration is seen as an opportunity for millions more entrepreneurs to start a business and thrive online with BaseKit's digital tools.
Mastercard's Executive Vice President, Maria Parpou, stated that the company is committed to bringing MSMEs into the digital economy through strategic partnerships. Mastercard's mission aligns with BaseKit's vision of a world where anyone with a business idea can thrive. Mastercard has recently surpassed its 2025 goal of integrating 50 million businesses into the digital economy, and this partnership is a significant step towards that goal.
BaseKit's CEO, Simon Best, expressed his excitement about the partnership, stating that it aligns with BaseKit's mission for global tech democracy for small businesses. The digital tools provided through this partnership will include an AI-powered website builder, built-in e-commerce, bookings, and a mini CRM in one simple platform.
MSMEs play a crucial role in the global economy. They account for 21% of total banking revenue pools, with MSME banking revenues increasing by 7% annually, surpassing both retail and corporate banking. MSMEs make up over half of global GDP and represent more than 90% of all businesses, and two-thirds of total employment.
The partnership also endorses the power of non-financial services as an expansion strategy for banks to win MSME market share. As of now, 65 million micro and small enterprises have been integrated into the digital economy by Mastercard. With the addition of BaseKit's tools, this number is expected to grow significantly.
BaseKit is currently available to Mastercard customers via partner banks, PSPs, and ISVs in multiple markets. The digital tools will be delivered through the Mastercard payments network, making them easily accessible to businesses worldwide.
This partnership is a testament to Mastercard's commitment to empowering entrepreneurs and MSMEs and Agentic's mission to provide digital tools for small businesses. It is a significant step towards a more inclusive digital economy and a world where anyone with a business idea can thrive.
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