Mastercard and Boost Join Forces to Fuel MSME Growth and Cash Digitization in FMCG Networks

In a significant move to empower small businesses in emerging markets, Mastercard has partnered with Boost, a leading business-to-business (B2B) commerce platform, to drive the growth of Micro, Small, and Medium Enterprises (MSMEs) in last-mile fast-moving consumer goods (FMCG) distribution networks. This collaboration will help small businesses access essential digital payment solutions, embedded credit, and integrated supply chain finance, setting the stage for long-term growth in today’s rapidly evolving digital economy.

Empowering MSMEs with Digital Solutions

Mastercard and Boost aim to unlock the full potential of MSMEs by providing them with the tools they need to succeed in a digital-first world. By combining Mastercard’s vast payment network and financial services with Boost’s innovative commerce platform, the partnership offers small businesses much-needed access to digital payment options, credit, and financing solutions. This will not only streamline operations but also provide essential working capital to fuel business growth and expansion.

This collaboration aligns perfectly with Mastercard’s global ambition to bring one billion people and 50 million MSMEs into the digital economy by 2025. With an initial focus on high-growth markets such as Egypt, Kenya, Nigeria, Ghana, and South Africa, Mastercard and Boost are committed to fostering a thriving ecosystem that supports small businesses in their digital transformation journey.

A Strong Foundation for MSMEs

Amnah Ajmal, Executive Vice President of Market Development, EEMEA at Mastercard, emphasized the importance of small businesses to local economies, stating, “Small businesses are the backbone of thriving economies, yet they often face significant barriers to growth. Through our partnership with Boost, we are strengthening the support ecosystem for MSMEs in emerging markets by providing essential digital tools and financing solutions to help them succeed in today’s digital economy.”

This partnership is particularly beneficial for FMCG distributors and retailers who use Boost’s digital commerce platform to digitize payments and access integrated supply chain solutions. By connecting these businesses to essential financial resources and Mastercard’s acceptance solutions, the collaboration ensures that MSMEs can thrive in a cashless world, which is becoming increasingly important in today’s business environment.

Boost’s Platform: Fueling Small Business Growth

Boost’s mission to empower small businesses in last-mile distribution networks is taking a significant step forward with Mastercard’s support. The company’s platform has already demonstrated its ability to drive cost-effective growth by providing end-to-end visibility and a space for direct-to-retailer digital engagement. This has been especially impactful in urban, peri-urban, and rural areas, where traditional methods of distribution and payments are often inefficient and outdated.

Mike Quinn, Co-founder and CEO of Boost, expressed excitement over the partnership, saying, “We have already proven that our highly scalable platform, coupled with our WhatsApp ordering solution, can power cost-effective growth across multiple channels. Mastercard will help us take our model to the next level to create transformative value for our customers and partners while fueling our global ambitions.”

The Future of MSMEs in the Digital Economy

With this strategic partnership, Boost and Mastercard are poised to revolutionize the way small businesses operate in the FMCG sector. By providing businesses with the tools they need to digitize their payment processes, boost visibility, and access embedded financing, this collaboration opens new opportunities for growth and sustainability.

Through Boost’s platform, manufacturers and last-mile distribution networks are equipped with the technology, data, and services needed to scale their operations in a digital-first economy. By digitizing traditionally offline channels and enabling direct-to-retailer digital promotions, Boost is setting the stage for a cashless, more efficient future for MSMEs across the globe.