Mastercard has announced the launch of Mastercard Global Commerce Suite for Small Businesses, a set of cross-border payment capabilities powered by Mastercard Move, designed to help banks serve small and medium-sized enterprises (SMEs) engaged in international trade across the Asia Pacific.
The suite is initially available to banks and financial institutions in Hong Kong SAR, with plans to expand across select markets in the region.
The launch comes as digital commercial payments in the Asia Pacific are forecast to grow 14.7% annually through 2028, driven by the accelerating digitalisation of SMEs and their increasing participation in cross-border trade. Despite this growth, many SMEs continue to face operational constraints, including limited payment visibility, complex compliance requirements, and fragmented systems that lack integration with international marketplaces and ecommerce platforms.
Platform capabilities and bank proposition
The suite is delivered through a single platform and provides banks with the tools to offer SME clients multi-currency virtual bank accounts, a single multi-currency card, API-driven connectivity to marketplaces, near real-time payment tracking, and embedded authentication and compliance functionality. The platform is intended to consolidate payments, collections, and expense management into one interface, reducing the need for in-house treasury capabilities that many SMEs lack.
Mastercard Move, which underpins the suite, supports money movement across more than 200 countries and territories, in over 150 currencies, reaching nearly 17 billion endpoints and approximately 95% of the world's banked population.
The product is positioned as a bank-facing solution, enabling financial institutions to modernise their commercial payments offering and deepen relationships with SME clients as those businesses scale internationally.
Commenting on the move, Anouska Ladds, Executive Vice President for Commercial and New Payment Flows, Asia Pacific at Mastercard, said the suite aims to give banks a scalable way to support SME growth by bringing payments, visibility, and control together in a platform purpose-built for cross-border commerce.
