Mastercard Introduces New Digital Benefits for SMBs

New benefits for businesses include access to Zoho, Microsoft Advertising and QuickBooks tools

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Need to Know

  • Mastercard BusinessCard and World Elite Mastercard for Business cardholders in the US will now be able to access tools from Microsoft, QuickBooks, and Zoho.
  • Benefits will include a 40% discount on QuickBooks Online Payroll for six months and a $125 in advertising credit with Microsoft Advertising.
  • A recent Mastercard survey indicated that 76% of SMBs needed to make their business more digital due to the pandemic, but 64% say this need posed a challenge.

Analysis

As small-to-midsize businesses continue to focus their resources on digital infrastructure, Mastercard has announced a suite of new tools aimed at helping SMBs more easily manage increasing digital demand.

Starting April 1, Mastercard BusinessCard and World Elite Mastercard for Business cardholders in the US will have access to exclusive benefits from Microsoft, QuickBooks, and Zoho. These tools and solutions are aimed at helping businesses grow and digitally transform in a climate that is increasingly focused on e-commerce and online operations.

“Now more than ever, having a digitally-led approach is critical for small business owners. Mastercard remains committed to helping provide small businesses the solutions required to meet the needs of the evolving consumer and operate in our digital world,” Chiro Aikat, EVP of products and innovation in North America for Mastercard. “Together with our partners, we are delivering a solid foundation of digital offerings and tools for our small business cardholders that help them sustain their business today and accelerate their growth tomorrow.”

With the new program, SMBs with Mastercard accounts will be granted a $125 advertising credit with Microsoft Advertising, after spending $10; a 40% discount with QuickBooks Online Payroll for six months; and 50% off a one-year subscription to Zoho Social, which is a social media management tool. These new benefits join a number of advantages already offered to SMBs with Mastercard accounts, which include access to Salesforce Essentials and access to a 24/7 Business Assistant, plus theft protection, and digital receipt management tools.

“Many businesses have experienced an accelerated digital transition this past year, and they are now exposed to an array of tools that can help them grow and promote their businesses across digital marketing channels—web, social, email, events and more,” Raju Vegesna, chief evangelist at Zoho, said in a statement. “We are thrilled to partner with Mastercard to offer our social media management tool and end-to-end digital marketing platform—Zoho Social and Zoho Marketing Plus—so that small businesses can fast-track their growth.”

The business-focused announcement from Mastercard comes as the company has also extended new benefits to its individual users. World and World Elite Mastercard consumer credit cardholders can now access a free three-month membership to DashPass, the loyalty program of food delivery service DoorDash, which provides free delivery and lower service fees. World and World Elite credit cardholders can also earn 5% back purchases with meal-delivery service HelloFresh, plus a discount on their first orders with the service.

Mastercard has been working throughout the pandemic to extend new programs and offerings to its consumer and business clients, as the needs of both individuals and businesses shifted considerably due to COVID-19. Most recently, the company partnered with the IOC to establish digital health passport standards, as the COVID-19 vaccine rollout continues worldwide. The company also launched health benefits for gig workers—such as food delivery couriers, whose workload has increased substantially due to the pandemic—in a partnership with Stride, and launched virtual cards for corporate clients in November of last year.

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