Mastercard Launches Special Tools To Help Middle Market Businesses Grow
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Mastercard has announced a new program called the Mid-Market Accelerator to help small and medium-sized businesses. This program is made for middle market companies, which are businesses that earn between $10 million and $100 million each year or have around 50 to 250 employees.
The new program will first be available in the U.S. before expanding to other countries. It combines Mastercard’s digital payment technology with extra features from its partners to improve transparency, security, and automation for businesses.
The New Program Helps Businesses Manage Money More Easily
New research from Mastercard found that fewer than 10% of financial providers offer full financial support to middle-market businesses. The company said that this gap shows a big opportunity to provide better financial tools. It also noted that four out of 10 businesses would change their financial provider if they found better services.
Jane Prokop, Mastercard’s executive vice president for small and medium businesses, stated that the new program proves Mastercard’s commitment to helping businesses grow. She added that the company wants to remove the challenges that have made it hard for midsize companies to access better financial tools.
The Mid-Market Accelerator includes different solutions that businesses can choose from based on their needs. The company said these solutions will help businesses track their money and improve financial decisions.
Mastercard Offers New Business Cards And Expense Management Tools
One of the key features of the program is a new Mastercard business card designed for middle-market companies. The company said this card includes benefits from its existing small business and commercial card programs, plus new rewards for midsize companies. It also noted that businesses can use both physical and virtual versions of the card, giving them more control over spending.
Another important feature is cash flow management, powered by Trovata. Mastercard said that Trovata helps businesses track their money by collecting financial data from different banks. This allows companies to analyze trends, plan their spending, and make smarter financial decisions in real-time.
Mastercard also introduced expense management tools through a partnership with Navan. The company said these tools use virtual cards to help businesses control spending, follow company policies, and track expenses more easily. It added that the tools provide real-time spending insights to improve financial planning.
The company noted that security is another key part of the program. Mastercard’s security features, such as ID Theft Protection, HealthLock, and Zero Liability Protection, help protect businesses from fraud and unauthorized transactions.
Mastercard is working with top financial and technology partners to expand these services. The company mentioned that it will first roll out the program in the U.S. before offering it in other countries.
