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Mastercard launches Biz360 to support small business operations

Thursday 14 November 2024 08:39 CET | News

Mastercard has introduced Biz360, a digital platform developed to help financial service providers support small business clients in managing essential business functions.

 

Biz360 integrates with existing digital tools, enabling small businesses to centralise daily operations in a simplified environment. According to Mastercard, digital solutions are increasingly critical for small businesses, with its research showing that 75% of small businesses use digital tools regularly. However, one-quarter of small business owners report inefficiencies, often managing up to six separate platforms daily, a process that impacts both their time and financial resources.

 

Mastercard has introduced Biz360, a digital platform developed to help financial service providers support small business clients in managing essential business functions.

 

Main highlights of the new platform 

The Biz360 platform aims to consolidate tools and resources in one place, providing small businesses with key features that enhance operational efficiency. Through Biz360, businesses can combine their digital tools, subscriptions, and payment systems into a single portal while gaining access to productivity-focused services. 

Main Biz360 features include: 

  • Centralised digital access: The platform combines business tools, subscriptions, and payment gateways in one accessible location, which allows for a cohesive user experience and operational flexibility. 
  • Efficiency: Administrative tasks are automated, freeing entrepreneurs to focus on strategic growth activities rather than routine management.
  • Customer engagement tools: A dedicated client portal within Biz360 facilitates customer relationship management, offering options for personalized marketing, loyalty campaigns, and digital presence optimisation. 
  • Data-driven insights: Customisable performance reports provide small businesses with actionable insights, helping to guide decision-making. 
  • Minimal setup requirements: Providers and their clients can integrate Biz360 with limited setup effort, allowing for a faster implementation and user adoption. 

Mastercard is rolling out Biz360 in partnership with Hello Alice, a fintech platform focused on small business growth, to make the service available to a select group of small businesses across the US. Additionally, Mastercard has collaborated with vcita, a small business service platform that enables customer engagement and time management tools. Mastercard has indicated plans to expand Biz360’s availability to additional markets in 2025 and to continue developing features that address evolving small business needs. 


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Keywords: product launch, SMEs, digital payments, partnership
Categories: Payments & Commerce
Companies: Mastercard
Countries: United States
This article is part of category

Payments & Commerce

Mastercard

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