Mastercard has launched Biz360, an all-encompassing digital solution aimed at helping financial providers support small business customers by simplifying the key aspects of business management and growth. With Mastercard Biz360™, business owners can now access enhanced features to streamline daily operations and integrate their existing digital tools into a user-friendly platform.
Meeting the Needs of Small Businesses
Digitization is essential for small businesses, with a Mastercard study revealing that 75% of small businesses utilize digital tools in their daily operations. Additionally, two-thirds of these businesses consider a seamless digital experience crucial. However, many face challenges with fragmented tools—25% of small business owners juggle more than six different platforms, consuming valuable time and resources.
“Mastercard believes that strong small businesses create strong communities. We are committed to equipping small businesses with innovative technologies to thrive in the digital age,” said Jane Prokop, Executive Vice President and Global Head of Small and Medium Enterprises at Mastercard. “Mastercard Biz360 is designed to save time, allowing entrepreneurs to focus on running their businesses and serving their communities.”
Key Features of Biz360
Biz360 offers several initial capabilities to financial and service providers for their small business customers:
- Consolidated Digital Experience: By integrating various operational tools, subscriptions, and payment gateways into one platform, Biz360 helps small businesses move away from isolated technologies. The platform also provides access to value-added services to boost productivity.
- Increased Efficiency: Biz360 automates administrative tasks, allowing business owners to dedicate more time to strategic, revenue-generating activities.
- Enhanced Customer Engagement: The solution includes a client portal for managing customer relationships, launching personalized marketing campaigns, and building a strong digital presence through website creation features.
- Data-Driven Insights: Personalized performance reports provide actionable insights, empowering small business owners to make informed decisions.
- Seamless Implementation: The platform offers easy integration with existing tools, enabling providers and their small business customers to quickly adopt the solution with minimal effort.
Expanding Through Partnerships
In collaboration with Hello Alice, a small business fintech platform, Mastercard will initially roll out Biz360 to select small businesses across the U.S. network.
“We are dedicated to empowering Main Street by providing American small business owners with the digital tools needed for success in today’s fast-paced economy,” said Elizabeth Gore, Co-Founder and President of Hello Alice. “We are proud to be among the first to offer Mastercard Biz360 to our community, helping entrepreneurs thrive.”
Mastercard is also partnering with vcita, a leading technology platform for small business markets. This partnership aims to enhance customer engagement, payment collection, and time management for small business owners.
“We are excited to work with Mastercard, a company equally committed to the success of small businesses,” said Itzik Levy, CEO and Founder of vcita. “Our collaboration will facilitate digitized operations, maximizing growth and customer satisfaction for small businesses.”
Future Expansion and Commitment to Digital Enablement
Mastercard plans to expand Biz360 to additional markets in 2025, continually enhancing the platform to meet the evolving needs of small businesses. Providers interested in becoming early adopters of Mastercard Biz360 can learn more about the program.
Biz360 is the latest addition to Mastercard’s portfolio of innovative products designed to support businesses at all growth stages. This launch builds on Mastercard’s achievement of integrating over 50 million micro, small, and medium enterprises into the digital economy since 2020. Through technology, partnerships, and philanthropic initiatives, Mastercard remains committed to digitally enabling businesses worldwide, supporting economic growth and empowering entrepreneurs.
