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Visa aims at helping 50 mln SMBs

Tuesday 23 June 2020 10:49 CET | News

Visa has announced it will offer a range of services to 50 million SMBs to help them grow, build their online footprints, and promote neighbourhood support. 

The announcement follows a global commitment from the Visa Foundation, announced in April 2020, to provide USD 210 million in COVID-19 relief funding to address the longer-term needs of the SMBs over the next five years.

The company also formed its Visa Economic Empowerment Institute aimed at societal issues like closing racial and gender gaps, as well as solving problems created by the COVID-19 pandemic.

Visa has built localised online resource centres, which are currently operating in more than 20 countries, to offer tools and information on starting and growing a digital-first business. In Europe, the company will increase the number of digital payment acceptance devices within shops by more than 50%. In the US, it will build on its IFundWomen partnership to give grants and digital training to US-based black women-owned small businesses.

Starting by July 2020, Visa ‘street teams’ will provide ‘back to business’ kits with POS materials, branding, educational resources, and special offers to merchants. The program will kick off in 50 US cities and expand globally to 15 countries including Singapore, Italy, and South Africa.

Besides, the Visa Back to Business Project is now live in the US, Australia, and New Zealand. In Europe, Visa has launched SMB initiatives that champion and enable entrepreneurs, while encouraging consumers to support small businesses. 


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Keywords: Visa, SMBs, digital, Visa Foundation, COVID-19, coronavirus, Visa Economic Empowerment Institute, digital payments, digital, payments, Europe, IFundWomen, partnership, US, POS, Singapore, Italy, South Africa, Visa Back to Business Project, Australia, New Zealand
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce