To address the transition to digital, Mastercard, through the Center for Inclusive Growth, launched Strive, a global initiative focused on strengthening the financial resilience of small businesses and supporting their recovery and growth.
Mastercard states that micro and small enterprises are contributors to job creation and global economic development, representing approximately 90% of business and more than 50% of employment worldwide. However, the pandemic necessitated a shift to digital platforms and processes that have created new opportunities but also pushed many to the brink of failure.
With an initial investment of USD 25 million from the Mastercard Impact Fund, Strive will help more than five million micro and small businesses around the world access the tools and resources they need to digitise.
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