mastercard (Well – free report) recently partnered with Tradeling, the leading digital marketplace for business buyers in the Middle East and North Africa (MENA). The collaboration aims to leverage the partners’ collective capabilities to bring more small and medium enterprises (SMEs) in the United Arab Emirates (UAE) into the thriving digital economy.
Following the success in the MENA region, the partners also plan to expand the collaboration to other regions around the world.
SMEs can reap multiple benefits from the latest partnership. Digging into the same details, corporate clients can enjoy a 5% discount on all products when purchasing from the Trading platform. However, customers will need to use any eligible Mastercard SME or Business debit, credit or prepaid card to receive the discount when paying on the Trading platform.
Meanwhile, the upgraded Mastercard and Tradeling technology platforms will make it easier for SMEs to obtain trade finance, which in turn is expected to make customers’ business operations smoother.
Aside from complementing the ulterior motive of infusing digitization into the global payments space, the latest tie-up could lead to increased usage of Mastercard-branded cards and generate more revenue for the tech giant.
Another important motivation for Mastercard, which is clearly on display in the latest move, is its efforts to establish a strong presence in the UAE and across the MENA region. As the region continues to witness a booming e-commerce market, it remains prudent for MA to form partnerships with technology platforms or make significant investments in the MENA region.
Mastercard’s assistance to SMEs through its partnership with Tradeling seems opportune. Post-pandemic, the need to digitize business operations has increased in many ways. However, due to the lack of sufficient resources and funds, it may be difficult for SMEs to embrace digitalization.
Therefore, due to its cutting-edge strength in payment innovation and technology, MA remains a reliable company for most SMEs worldwide, through which it can connect billions of consumers, issuers, merchants, governments and enterprises.
Shares of Mastercard have risen 13.4% over the past six months industryAn increase of 5.7%.
Image Credit: Zacks Investment Research
MA currently has a Zacks Rank #4 (Sell).
stocks to consider
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