Mastercard joined forces with Boost to accelerate the transition of FMCG distribution and retail networks from cash to digital payments.
The collaboration between Mastercard and Boost, a provider of B2B payment solutions, aims to empower micro, small, and medium enterprises (MSME) in the fast-moving consumer goods (FMCG) sector with digital payment technologies and embedded financing solutions.
The primary goal of this partnership is to support small business growth and facilitate their shift from cash-based transactions to digital payments. Globally, Mastercard aims to bring 1 billion individuals and 50 million MSMEs into the digital economy, with a special focus on emerging markets like Egypt, Kenya, Nigeria, Ghana, and South Africa.
According to the International Finance Corporation (IFC), MSMEs account for over 90% of businesses worldwide, contribute 60–70% to total employment, and generate approximately 50% of global GDP. Despite their significance, the sector faces a $5.7 trillion funding gap.
Through this strategic partnership, FMCG distributors and retailers will gain access to “radically easy” tools for payment digitalization, direct digital engagement, and embedded financing solutions.
Mastercard continues to expand its digital asset-based payment tools. Over the past month, Mastercard introduced Floki Card, a crypto debit card in Europe, and Bybit Card in Brazil.
